Since November 2019, the prices of essential goods in the United States have skyrocketed.

Just looking at these numbers reveals the impact. Car insurance costs have surged by 56.1%, making it the fastest-growing among all major consumer goods. Close behind are utilities gas and auto repairs, both up by 48.8%. Even everyday items like coffee haven't been spared, increasing by 46.1%. Electricity prices have risen by 40.4%, meat, poultry, and fish by 38.1%, and dining out has become 34.8% more expensive.

What is the most striking comparison? The growth rates of these categories all far exceed the overall CPI inflation rate of 26% during the same period. In other words, the pace of daily expenses is outstripping the official inflation data.

What does this mean? Only those holding assets can hedge against the erosive effects of compound inflation through asset appreciation. The purchasing power of ordinary consumers is continuously being squeezed, while asset owners can leverage inflation to further accumulate wealth.