4 ms·
Just to add specifics, the cumulative inflation since September 2019 is over 20% and it's still growing. All that's changed is the year-over-year velocity has d
by losteric 3y ago
Just to add specifics, the cumulative inflation since September 2019 is over 20% and it's still growing. All that's changed is the year-over-year velocity has decreased.
But! US average hourly income is also up about 20%. Granted, that's an average - US tech income (upper-middle class) is probably flat, as is the minimum wage-bottom.
- matthewmacleod 3y agoAll that's changed is the year-over-year velocity has decreased This is literally inflation – the rate of change of prices.
- losteric 3y agoI know. There's a gap between common language and technical definitions. Most people use "inflation" to baseline current prices against recent memory (ie cumulative change over multiple years). I opt against the quixotic battle for language, people typically skim such pedantry. Also... one could argue the YoY definition is "wrong" if consumers are thinking and planning based on a longer time period. Why report YoY instead of a rolling 2 years? 5? Or perhaps different windows for specific items within the basket?
- xxpor 3y agoNo, the minimum wage bottom (very few people any more at the federal level, ~2.5%. In 2010 it was >10%) has seen the fastest growth vs the middle and top of the ladder.
- drexlspivey 3y ago> the cumulative inflation since September 2019 is over 20% and it's still growing but it’s always growing
- ska 3y agoBut at target rates it would be about 8% since 2019, not 20%.