During periods of higher inflation, it is important to consider long-term inflation used in retirement planning forecasts. Different categories of spending inflate differently, and households spend very differently at different ages.  Therefore, households do not experience inflation to the same degree.  Older households need to plan for high health care inflation, including the fact that they will likely use more health care goods and services as they get older. For some retirees, housing inflation may not be as much of an issue if they own their home outright since housing inflation includes imputed rent, which is the amount that it would cost to rent their home if they did not own it. And while all households are affected by food and beverage inflation, those age 75+ spend a smaller share of their budget on it than younger households.