The Consumer Price Index (CPI) rose 5.4% in June 2021 compared to June 2020 as this article shows. This is the fastest rise since August 2008, prior to the financial crisis.

The main drivers of this rise have been the price of used vehicles, food and energy. There is yet no consensus as if this rise is temporary or if the inflationary tendencies will continue and get stronger.

This is the official inflation rate. However, there are other calculations, specially the ones using the methodology prior to the 1980's, which show higher inflation rates. For a view at these rates take a look here.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.

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