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Inflation has become integral to the American consciousness in 2021 in a manner that it hadn't been for decades. Google searches are up. Supply chain difficulties factor into popular Instagram photos. The parody website The Onion cautioned in a recent headline that "higher costs may drive Americans to consume sensible quantities on Thanksgiving." Even if inflation approaches its greatest level since 1982 and inserts itself as a matter of public conversation, attempting to grasp it may be a mind-bending job. Some individuals who have studied markets and the economy for years frequently do not know the ins and outs of how inflation is calculated. Its aftereffects on society — from who wins and who loses to whether it is good or bad news — are multifaceted. Here's a primer to help clarify what inflation is, including how it is calculated and what it implies for your economic stability and investments.