Prices for American consumers are rising at their fastest annual rate since June 1982.The consumer price index (CPI) rose 6.8% in the year to November according to the latest figures from the Bureau of Labor Statistics.
Source: US price rises hit highest level for 40 years – BBC News
We see the collapse in the value of the dollar every time we visit the grocery store. Last week, a loaf of sourdough bread was $5.99 in the local store.
Inflation is a tax on everyone who owns cash, is paid in cash – and benefits those who own debts, notably the U.S. government, who will pay off their excessive borrowing with future deflated dollars.