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The US inflation tax remains moderate but significant [ClearOnMoney]
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The US inflation tax remains moderate but significant

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Commentary

The US inflation tax remains moderate but significant

17 Mar 2012 by Jim Fickett.

Yesterday the BLS reported inflation data through February. Core inflation (all items less food and energy) was at 2.2%:

Since T-bill rates are currently yielding 0.8%, one reasonable measure of the inflation tax on savers is 2.2% - 0.8% = 1.4%. 1.4% doesn't sound like much and, indeed, it is not nearly as bad as it could be. But consider a retired person who has responsibly saved enough that they can pay themselves the oft-recommended 4% of savings per year to live on. 1.4% of savings is about a third of that, so that the inflation tax (in addition to any income tax) cuts the available living allowance by one third. No small matter.