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What is Your Personal Inflation Rate.doc

What is the inflation rate that applies to you - it may differ from the average.

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This article demonstrates how you can calculate an inflation rate that reflects your experience. This will show you what inflation is and how if affects your standard of living, especially over time. 

This article demonstrates how you can calculate an inflation rate that reflects your experience. This will show you what inflation is and how if affects your standard of living, especially over time.

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North America - Canada 

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Ideas and Strategies 

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Other 

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Inflation 

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We have all heard inflation statistics being announced in the media or in business reports. The numbers you are hearing are average numbers for a region, like Canada or Ontario. Do these numbers really apply to you? The answer is yes and no. The numbers apply to you because they are used to determine pay raises, pension raises, price increases, and long term project costs. The numbers may not apply to you if you are doing personal planning and trying to figure out how much spending power your money will have in the future.
As with everything that is calculated and averaged, there are always assumptions. The first one is: do you personally spend money like the average person? What is the average person? Statistics Canada deems the average person spends money in a certain way. If you allocate your money very similar to the average, the inflation numbers will apply to you very well. If not, the numbers are less meaningful.
 

We have all heard inflation statistics being announced in the media or in business reports. The numbers you are hearing are average numbers for a region, like Canada or Ontario. Do these numbers really apply to you? The answer is yes and no. The numbers apply to you because they are used to determine pay raises, pension raises, price increases, and long term project costs. The numbers may not apply to you if you are doing personal planning and trying to figure out how much spending power your money will have in the future. As with everything that is calculated and averaged, there are always assumptions. The first one is: do you personally spend money like the average person? What is the average person? Statistics Canada deems the average person spends money in a certain way. If you allocate your money very similar to the average, the inflation numbers will apply to you very well. If not, the numbers are less meaningful.

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I have no positions in any stocks mentioned in the work, and no plans to initiate any positions within next 72 hours. I receive no compensation to write about any specific stock, sector or theme.

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W-00000143

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Upload date:

01 Jun, 12 

Last updated:

09 Jul, 12 

Status change date:

09 Jul, 12