Financial experts say that government-driven inflation is killing retirement.
Some experts have warned that tubborne inflation hurts because it erodes the purchasing power of consumers.
But it has far greater implications because the higher cost of living makes Americans plan for their better years.
The cost of everyday items has increased by 8.3% year-on-year in the month of August.
Phelps said in his book that there will be a further decline in inflation.
Phelps said inflation would rise and that COVID spending accelerated it.
Inflation can increase further due to wrong decision of the government.
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