Inflation is a word that fills many with dread. A recent Harris Poll found that 55% of Americans are worried about inflation and what it will do to their cost of living.
It's not a surprise people are afraid. The most recent inflation reading from the Consumer Price Index came in at 6.8%, recording the highest year-over-year increase since 1982.
If inflation is 5% and it's expected to remain that way, you can ask for a 5% raise to adjust your salary for the rise in the costs of goods and services.