Determine Your , Personal Inflation Rate, to Help Navigate Rising Prices.<br />NBC reports that the , Consumer Price Index , fell for the first time in eight months in April.<br />The Consumer Price Index takes <br />into account the price of food, airline tickets, <br />rent and hundreds of other goods and services. .<br />NBC points out that it is also a broad measure and <br />may not reflect an individual's experience of widespread <br />inflation which remains near a 40-year high. .<br />NBC points out that it is also a broad measure and <br />may not reflect an individual's experience of widespread <br />inflation which remains near a 40-year high. .<br />Figuring out your personal inflation rate <br />can help you get control of your budget <br />and navigate rapidly rising prices.<br />Step 1: , Pick a month. , Find your expenses for that <br />month from 2022 and 2021. .<br />Step 1: , Pick a month. , Find your expenses for that <br />month from 2022 and 2021. .<br />Step 2: , Determine your biggest expenses. <br />This includes food, housing, entertainment, <br />transportation, clothing, education and more. .<br />Step 2: , Determine your biggest expenses. <br />This includes food, housing, entertainment, <br />transportation, clothing, education and more. .<br />Don't forget to include bills that you pay quarterly <br />or annually. Take the time to figure out how much <br />each of those bills would cost each month. .<br />Don't forget to include bills that you pay quarterly <br />or annually. Take the time to figure out how much <br />each of those bills would cost each month. .<br />Step 3: , Total your monthly expenses and determine <br />the difference between 2022 and 2021. .<br />Step 4: , Divide by the total amount <br />of your expenses from 2021. .<br />This can help you figure out just how much of an impact rising prices are having on your budget. .<br />Determining how your expenses have changed offers a starting point for bringing your costs down and regaining control of your finances
