How to Save Money During High Inflation
How to Save Money During High Inflation

How to Save Money During High Inflation

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From Europe to the United States and several other parts of the world, inflation has been at historically high rates since the beginning of 2022. As a result, many people, households, and businesses are experiencing a financially difficult time meeting their needs.

Euronews has it that, in the UK, the inflation rate went as high as 10.1% in July. The inflation level is higher than it has ever been in the last 40 years.

Also, according to Statista's most recent report, prices in the United States grew by 8.5% in July 2022 compared to July 2021. This figure is in line with the 12-month percentage change in the consumer price index (a concept we will explain later in the article).

This widespread high inflation is not the first in history; it will not be the last. Therefore, this is the best time to learn how to secure your financial freedom sustainably amidst skyrocketing prices.

In this article, we will outline various ways you can protect yourself against the impacts of inflation, irrespective of your country of residence. You will also find the best mobile apps and digital platforms for saving and growing your money at all times.

Monthly Inflation in the US. Source: Statista. - AskWallet.io

Ibrahim Busari
Ibrahim Busari
Ibrahim Busari
Ese Precious
Ese Precious