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but there's no mention of what incomes did over the same period? the recent inflation was caused by cheap money policies (probably around covid) which flooded t
by fsckboy 3y ago
but there's no mention of what incomes did over the same period? the recent inflation was caused by cheap money policies (probably around covid) which flooded the market with spending, driving up prices.
also, isn't inflation always calculated on a 12 month scale? each month they publish how much prices have increased from 12 months before. This means that if there is a lot of inflation for a few months, each succeeding month after that will show high inflation till that bulge in the snake works it's way through. The numbers are a valid comparison to a year earlier, but misleading if you think "omg we've had month over month of high annual inflation numbers!"
- s1artibartfast 3y agoLooks like the median income went from 34k to 40k [1]. However, median income is very misleading because it does not include goverment transfer payments, which are substantial in that income range. https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N