Here’s some news you need to be aware of -
The Consumer Price Index (CPI) inflation has risen to a 6 month high of 6.3% in May, as per data released by the Government yesterday. This has been caused by the rise in food and fuel prices, as per the data.
What is CPI?
The Consumer Price Index measures the average change in prices over time that consumers pay for a basket of goods and services and is the most widely used measure of inflation. CPI hence, is an economic performance indicator.
Now unless you earn an interest of 7% or above on your savings, it gets difficult to ride over this wave of inflation and come out stronger. Anything less than 6.3% will lower your overall financial stature indirectly and hit you with losses.
Another way to beat this inflation is to invest in Mutual Funds regularly with zero commissions. Historically, mutual funds have given returns of 5-6% above inflation in the long term.
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