Transcript:
Ever notice prices increasing?
While your money's buying power shrinks?
That could be due to inflation.
There are three main causes of inflation…
There's Demand-pull inflation
- when an increase in demand for products and services causes prices to increase.
Cost-push inflation
- when the cost of materials or labor goes up, and causes product prices to increase as a result.
And Built-in inflation
- when people see higher costs all around them and adjust
- like raising employee wages to keep up with the cost of living.
How can you fight inflation?
Make sure you save your money in an account that generates interest.
That way, your money keeps growing and so does your buying power.
So, that's Inflation! Find more ways to know and grow your money at Synchronybank.com.
LEARN MORE: Money: Know It to Grow It - Savings Account
