Respond to this.

 

The inflation rate in the United States today is around 4.1% and the inflation rate has been declining from the rates during the pandemic recession reaching as high as 8.9% in 2022. Inflation rates have been declining as the economy bounces back from the pandemic recession, but the inflation rate is still higher than pre-pandemic rates after the great recession. Inflation rates are on track to keep decreasing and eventually returning to pre-pandemic rates. I think that the inflation rate will continue to decrease over the next 6 to 24 months and return to rates pre-pandemic and post great recession. The pre-pandemic rates varied from around 1.5% to 3% over the 10 years from 2010 to 2020. There may be an increase in the inflation rate during the next 6-24 months, but I think the rates will decrease quickly if that inflation rates increase. I think the inflation rates will keep decreasing over the next 24 months unless there is another recession that will cause the rates to drastically increase again. One example of why we care for inflation is deciding on long term payments and adjusting those payments to projected inflation to see if the purchase is worth it. Another reason to care for inflation is to calculate for the increase in product prices, and if salaries also increase to match the increase in prices. Another reason to care for inflation is if you are borrowing money or getting a mortgage loan, it will be important to calculate for anticipated inflation and have unexpected inflation in the back of your mind incase.