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Bitcoin rises 164% in year as inflation soars -‘US dollar is no longer safe’ | City & Business | Finance

Mount Equity Group Tokyo, Japan > News > Markets > Bitcoin rises 164% in year as inflation soars -‘US dollar is no longer safe’ | City & Business | Finance

In comparison to last year inflation of the US dollar has risen 5.4 percent and in the UK the cost of goods and services in relation to wages has increased by 3.4 percent. These inflation figures were measured by the consumer price index (CPI) by the Organisation for Economic Co-operation and Development (OECD). However, analysts argue that the real rate of inflation is many times higher if investment items, such as stocks, bonds, real estate, and life insurance are included in the index.

The cost of living increase has moved former US presidential Bernie Sanders to tweet: “Today, our younger generations have a lower standard of living than their parents did at their age.

“Meanwhile, the cost of housing is 72 percent higher and the cost of college is 163 percent higher than it was 20 years ago, after adjusting for inflation.

“The time for action is now.”

Storing values such as gold and Bitcoin is being touted as safe havens to escape…

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