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What is inflation and what causes it? Bankrate 2 hrs ago © Xinhua News Agency / Contributor / Getty Images Customers shopping at a supermarket Inflation is when the dollars in your wallet lose their purchasing power either because the money supply has dramatically increased or because prices have surged. Its an economic phenomenon that has a nasty reputation among policymakers, investors and consumers alike. Thats more so now than ever, with consumers spotting things like spikes in used car prices and pricy sporting tickets (both of which are up 10 percent from the prior month) and price surges at the gas pump. Experts say as the coronavirus pandemic moves into the rearview mirror, there might be even more cause for concern. Pent-up consumers are ready to go big on the purchases theyve been deprived of for more than a year, and adding to their wherewithal to spend are record-high savings rates thanks to three stimulus checks from Congress. Yet, shortages are preventing pr

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