Learn about purchasing power, its effect on currency value, and how inflation influences what one unit of money can buy. Understand its significance for investors.

Here’s something no American wants to hear: Prices are surging again, and uncomfortably high inflation could be with us for quite some time.

Fed official Beth Hammack warns interest rates could rise if inflation stays elevated, citing uncertainty over the Iran war's impact on oil and gas prices.

Nonalcoholic beverages broadly, which is a CPI category that captures coffee, tea, and juice, were up 5.6% year over year. Airfare, apparel, household furnishings, and new vehicles all climbed as well, while tobacco (8%) and hospital services (7.1%) were already running hot.

Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.

Inflation has shot up as gas prices surged, but you can still beat it with the right savings account if you know where to look.