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> Holiday Spending Increased > numbers are not adjusted for inflation

fbdrgvv 3y ago
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stevenAthompson 3y ago
The article addresses this several times: "And even though consumer prices have risen a lot in the last two years, wages have grown faster on the whole" "The holiday sales figures, driven by a healthy labor market and wage gains, suggests that the economy remains strong."
- tsimionescu 3y ago
  If both prices and wages have risen commensurately, that's called inflation.
  - stevenAthompson 3y ago
    "faster as a whole" !== "commensurately"
- postsantum 3y ago
  These two points are mostly irrelevant (and not substantiated by data in the article). Regardless of whether they are true or not, high inflation leads to higher spending. That makes the title kind of misleading
  - stevenAthompson 3y ago
    >(and not substantiated by data in the article) They're direct quotes from the article. The article states that wages are increasing faster than prices. If wages are increasing faster than the prices then it is not inflation. Do you have alternative evidence that leads you to believe the article is inaccurate about this? Or is your disagreement based more on your own subjective feelings and experiences?
    - fngjdflmdflg 3y ago
      it says wages have grown faster as a whole, not spending. If spending went up 3.1% and inflation increased by exactly 3.1% as well, as it did[0] then true spending did not increase. It's not clear what argument your making here. [0]https://www.bls.gov/cpi/ https://www.bls.gov/cpi/
      - stevenAthompson 3y ago
        The CPI number you cite is for the year (November to November), the retail growth rate of 3.1% is for Nov. 1 to Dec. 24 only. Additionaly, that 3.1% number represents only retail growth, other (more booming) sectors grew by much larger percentages. For example, restaurants grew by 7.8%. I see how those two numbers both being equal to 3.1% could be confusing at first, but they're not measuring the same thing at all.
        fngjdflmdflg 3y ago
        Ah. That make sense. I was confused by "compared with a year earlier."
dnos 3y ago
Indeed. To expand to help save time for someone else: “Retail sales increased 3.1 percent from Nov. 1 to Dec. 24 compared with the same period a year earlier” What that means, if anything on its own, is up for debate.

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The article addresses this several times: "And even though consumer prices have risen a lot in the last two years, wages have grown faster on the whole" "The holiday sales figures, driven by a healthy labor market and wage gains, suggests that the economy remains strong."

tsimionescu 3y ago
If both prices and wages have risen commensurately, that's called inflation.
- stevenAthompson 3y ago
  "faster as a whole" !== "commensurately"
postsantum 3y ago
These two points are mostly irrelevant (and not substantiated by data in the article). Regardless of whether they are true or not, high inflation leads to higher spending. That makes the title kind of misleading
- stevenAthompson 3y ago
  >(and not substantiated by data in the article) They're direct quotes from the article. The article states that wages are increasing faster than prices. If wages are increasing faster than the prices then it is not inflation. Do you have alternative evidence that leads you to believe the article is inaccurate about this? Or is your disagreement based more on your own subjective feelings and experiences?
  - fngjdflmdflg 3y ago
    it says wages have grown faster as a whole, not spending. If spending went up 3.1% and inflation increased by exactly 3.1% as well, as it did[0] then true spending did not increase. It's not clear what argument your making here. [0]https://www.bls.gov/cpi/ https://www.bls.gov/cpi/
    - stevenAthompson 3y ago
      The CPI number you cite is for the year (November to November), the retail growth rate of 3.1% is for Nov. 1 to Dec. 24 only. Additionaly, that 3.1% number represents only retail growth, other (more booming) sectors grew by much larger percentages. For example, restaurants grew by 7.8%. I see how those two numbers both being equal to 3.1% could be confusing at first, but they're not measuring the same thing at all.
      - fngjdflmdflg 3y ago
        Ah. That make sense. I was confused by "compared with a year earlier."

dnos 3y ago

Indeed. To expand to help save time for someone else: “Retail sales increased 3.1 percent from Nov. 1 to Dec. 24 compared with the same period a year earlier” What that means, if anything on its own, is up for debate.