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Video - Money: Know It to Grow It - Inflation

Written by Synchrony Staff

Published Jul 18 | 1 minute read

Money 101
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    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

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    Synchrony Staff

    This article contains contributions from multiple staff members for the Synchrony blog.

    *The information, opinions and recommendations expressed in the article are for informational purposes only. Information has been obtained from sources generally believed to be reliable. However, because of the possibility of human or mechanical error by our sources, or any other, Synchrony does not provide any warranty as to the accuracy, adequacy or completeness of any information for its intended purpose or any results obtained from the use of such information. The data presented in the article was current as of the time of writing. Please consult with your individual advisors with respect to any information presented.
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