00:00So you may have noticed inflation when your grocery bill was off the charts last week.
00:05Inflation may also affect you and your family in ways you haven't noticed yet.
00:09As NerdWallet highlights, changes to taxes may benefit you.
00:13For example, the IRS raised the standard deduction by $1,800 for married couples filing jointly and $900 for singles.
00:20Now the standard 2023 deduction is $27,700 for married and $13,800 for singles.
00:30As Investopedia points out, inflation can lead to faster economic growth in the short term.
00:36Businesses are encouraged to invest, so may be hiring.
00:39Retirement contributions rise, so you can take advantage of those to save more for your future.
00:45Inflation, however, may be quieting.
00:47It slowed down on an annual basis for the sixth straight month, as the New York Times reports.
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