Can inflation adversely affect buying power? The increasing cost of products
such as bread, gas, utilities, and stamps seem to illustrate the decreasing power
of a dollar.
Though it's true that some items have increased in cost, the new
items are often bigger, better quality, more durable or contain more features
The claims of inflation making it difficult to never expect a better life
and to be content with higher prices/less value is false and dangerous.
Accepting the premise that inflation always eats up income
easily justifies indebtedness and despair.
The fact is many products are a better deal today than 10 years
ago ( TVs, life insurance, and music).
Furthermore the effects of inflation can be nearly eliminated by buying quality used products or using products up before replacing them.
I have a desk built in 1986 and a small refrigerator built over 15 years ago.
I don't need to spend money on a new higher price desk when my current one works just fine.
With the increased cost of goods you typically get better value.
But if the new product isn't a better value, then simply hold on to what you have or buy used and thereby buck inflation.
(photo courtesy Michelle Meiklejohn )