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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 spend
by 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 agoThe 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 agoAh. That make sense. I was confused by "compared with a year earlier."