the.com/purchasing power
the same dollar, doing less push-ups every year.
means the amount of goods or services a unit of currency can actually buy at a given time.
from formalized in economics alongside inflation theory in the early 20th century, though the idea is as old as coinage itself — every emperor who debased his currency understood it instinctively.
stealth taxinflation erodes it without ever raising rates
wage illusionbigger paycheck can still mean less power
big mac indexthe economist ranks currencies by burger cost
for instance
weimar germany 1923 — a wheelbarrow of marks barely bought bread by november
venezuela bolivar 2018 — inflation topped 1,000,000 percent, wiping out savings overnight