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You have been asked by a local newspaper to write a relatively brief article on inflation...

You have been asked by a local newspaper to write a relatively brief article on inflation in the U.S. In particular, the editor of the newspaper would like to know current inflation rates, how these compare with inflation rates in past years, and whether U.S. citizens should be concerned about inflation (current inflation...not what might happen in the future).
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US inflation rate increased to 2.3% YOY in December 2019 from 2.1% in November 2019. This is the highest inflation rate noticed since October 2018. However this inflation rate is still in line with market forecasts.

Below chart shows the past trends of inflation rate :

United States Annual Inflation Rates (2009 to 2019) 2.7 2.1 2.1 1.9 1.7 1.5 2009 2011 2013 2015 2017 2019* 2010 2012 2014 201

If we calculate the average of last four years (2015 to 2019) inflation rate, it comes to 2.1. So on basis of it we can say that inflation rate is consistent and US citizens should not be very much concerned about it.

However if we compare the inflation rate of 2019 with of 2015 (being the lowest), it does gives us signal to be worried about because on constant basis inflation rate has been on higher side for four years in a row. High inflation depicts that for same amount of spending you are obtaining less quantity in return or in other words, in order to obtain same quantity we have to spend more amount now.

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