Well-known investor, Berkshire Hathaway Vice President Charlie Munger calls rising inflation the biggest long-term danger besides nuclear war.

With consumer prices up 7.5% year-over-year in January inflation numbers, the Federal Reserve is now under pressure to raise interest rates more this year than previously forecast.

Asked how today's inflation compares to the price spike in the 1970s, Munger warned that the current problems could be worse and harder to fix.

Although he hopes that such consequences are still far away.

Inflation is a very serious topic, it can be argued that this is how democracies die. This is a huge danger, he said, citing hyperinflation as the cause of the collapse of the Roman Empire.