Yes it has. Euro costs 10% more in USD than one year ago
But more or less only the euro. The USD has strengthened or held steady against INR, RMB, CAD, AUD, etc. The euro is strengthening even more, however.
By those metrics the dollar has lost a lot of value in the last year
Once Diwali ended a couple weeks ago, Gold prices slumped [2].
The same thing happened with Silver [3].
You used to see similar stuff happen around CNY back when China was growing at double digit speeds [4].
[0] - https://www.cnbc.com/amp/2025/10/27/indians-spend-up-to-11-b...
[1] - https://www.reuters.com/world/india/winners-losers-indias-sw...
[2] - https://www.bloomberg.com/news/articles/2025-10-20/gold-s-re...
[3] - https://www.bloomberg.com/news/articles/2025-10-18/sold-out-...
[4] - https://ecomod.net/system/files/gold_and_china_ecomod2013.pd...
The dollar is being devalued every time more money is injected into the system, either by government printing or banks printing more money via unsecured debt. When the total amount of currency in circulation goes up my money was devalued, prices will always go up when the money supply increases.
I was pointing out somewhat pedantically that 'devalued' has a specific meaning and 'to lose purchasing power' is not it.
> When the total amount of currency in circulation goes up my money was devalued, prices will always go up when the money supply increases.
If you got more of that money to cover increased costs then it wouldn't be a problem, so it really only matters if you don't get a bump in income that covers the decrease in purchasing power.
The problem is not money supply increasing -- it is that it is being misallocated. The money supply has to increase in order for economies to grow otherwise it would deflate, and that cause all sorts of worse problems.
I view the increase in money supply a core issue that harms all of us. Yes, it wouldn't technically matter if all of us received the new money in a perfect allocation based on the amount of money we currently hold - if I have $100 and the supply increases by 2% I'm fine if I now have $102. It never works like that though, and never will.
Allocation is only one of the challenges to deal with when debasing the currency by increasing supply.