Quote:
Originally Posted by OrangeBlossomBaby
So - here's how it works:
Widgets were invented 10 years ago, and were $1 each.
Last year, you needed a widget. Last year, widgets cost $9 each.
This year, the same widget is $3.
Yes - it's up from when it first came out on the market. But it's much less than it was last year.
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Is that a weird fantasy world math? Name the widget. Something technology based? Obsolete today because something newer was created?
The inflation numbers are published monthly, for a 1 year span. When there is a huge cost bump in a month from a year ago, and that bump falls off the moving average as time passes. So the "change" appears better. In actuality, we are still saddled with that huge cost increase today.
The fact is that the cost of living is way higher now than a year ago. Sure, one can hand pick an example of things that are not still up (typ obsolete technology), but everything else is way up. Food (meat, pop, bread, fruits, grains, etc), energy, insurance, hard goods, cars, labor, water, clothing... 99% of things cost a lot more now. Not 2% more (like prior to JB), many are 10% to 200% more.
Even if the inflation number goes to zero... all that says is that things are still way more expensive today than a year ago.