Return to Blog

2022 Inflation Crisis

2022 Inflation Crisis

When you look back at inflation historically, 1991 was the last time inflation had the amount of increase that it currently has in 2022. Let's start be defining inflation. Inflation is the increase in the price of goods and/or services. It is also the devaluation of your purchasing power through a lower dollar. Watch the video below to learn more about the 2022 inflation crisis.

Inflation Predictions for 2022

Many people thought the inflation we saw in 2022 was temporary, and that by 2022, inflation would resume back to around 2%. 2% is the government's target. However, now analysts expect inflation to stay around 7% through the remainder of 2022. By 2023, the analysts see inflation going back down to around 2%, and thus the 2022 inflation crisis would finally subside.

What causes inflation?

This period of inflation in 2021-2022 is caused by a strong demand for products. A large number of people who did not spend money in 2020 and 2021 are now looking for goods and services that are not in great supply. Those supply issues are mostly due to shutdowns in 2020 because of COVID-19.

How do we measure inflation?

The government runs a consumer price index which is a survey of households across the US so see what they are spending on goods and services directly. That survey over the past year has shown a 7% increase. However, if you remove energy and food from that calculation, it was up 5.5%.

Casey Smith

Wiser Wealth Management, Inc. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Happy Birthday to Kylie, our Marketing Assistant! Kylie works hard behind the scenes on our website, podcast, social media, and so much more.

Meet Daphne, our Financial Planning Intern. She is studying Finance at The University of Georgia. We are excited she's joined us for the summer!

Your Medicare premium is affected based on which tax bracket you fall within after age 63. IRMAA is your income-related monthly adjustment amount. Watch today's video to learn more about how IRMAA works. #irmaa #medicare

The big question is, will we have a recession in 2022? Watch this video to find out! #recession2022 #recession

Happy birthday to LJ our Video Production Manager! LJ works behind the scenes producing all of our podcasts and videos that we post every week. 🎉



Client Access

Firm Information

Schedule a Meeting
678-905-4450[email protected]
Google Rating
Based on 71 reviews