5 Main Ways To Fight Inflation 3. use cash back credit cards or bank accounts. earning cash back on essential expenses like gas and groceries can be a simple way to put money back in your pocket. bowen agrees: “it’s a way. Do: optimize your budget. “regularly reviewing and adjusting your budget can help you manage rising costs,” shirshikov said. “focus on reducing discretionary spending and increasing savings.
5 Ways To Fight Inflation Saul Wealth Advisors Llc 2 talk to your advisor, or find one today. 3 buy used, or borrow. 4 cook at home. 5 trim your digital subscriptions. 6 tidy up your insurance products. 7 travel during off peak times. 8 barter and trade. 9 look at how often you drive. 10 use your credit cards wisely. The consumer price index (cpi), the government's main gauge of inflation, rose 5.4 percent the 12 months ended july, the highest reading since 2008. although some economists say that the rise in prices is a temporary side effect of the covid 19 pandemic , even fleeting inflation can hit households — particularly those of retirees who live on a fixed income — hard. Canada's inflation rate rises to 5.1% — highest since 1991 despite record high inflation, bank of canada holds interest rate steady — for now u.s. inflation rate soars to another 40 year high. 5.25% to 5.5% the target federal funds rate. this rate was initially set by the fomc at its july 2023 meeting, which was an increase of 25 basis points (0.25%) from the rate set in may 2023.
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