ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Tuesday, October 22, 1996 TAG: 9610220068
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
The cost of living has risen 3 percent in the past year, according to a recent government report. But the results can be devastating to anyone trying to provide for the future.
Mark Vitner, an economist for First Union Corp., said a dollar earned in 1967 buys about 21 cents worth of goods and services today. At the current 3 percent pace of inflation, he said, the purchasing power of a dollar earned today would lose about one-third of its value in 10 years.
LENGTH: Short : 20 lines ILLUSTRATION: GRAPHIC: 21 charts. color.by CNB