Inflation is something we are all vaguely aware of, but because of its complexity, have largely ignored its implications. Because of this, we are nearly all paying the price of inflation tax in one way or another, we just don't realise it. For example, over the past 10 years, second class mail prices have gone up over two and a half times - from 19p in 2002 to 50p in 2012.
An IC reader this week asked: "How much do I need to save for retirement?" In the context of inflation the answer may be more than you think.