Annual change in Federal Reserve digits (dollars) was 8.4%, down from 8.5% last month, and down from the most recent high of 14.6% in June 2012, just two years ago. Any increase will reduce the value of existing digits. Still, the annual increases have continued to shrink.
The total quantity of Federal Reserve digits (“dollars”) did not increase compared to last month. There were 101.7 digits in April and there are 101.7 digits in May. Coincidentally, the last time there was no increase was last May, when the quantity actually decreased month-over-month by 0.2 percent.
Still, the quantity increased 8.4 percent compared to last year, meaning the digits will eventually be worth 8.4 percent less compared to what they would be worth had the Federal Reserve banks not issued more digits. Each new digit takes value from existing digits.