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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No, here is how it works.
In July 2021 the widget was $1.00. Inflation from July 2021 to July 2022 was 9%. The widget now cost $1.09. Inflation from July 2022 to July 2023 is 3%. The widget now cost $1.1227 The cost is still going up, just not as fast.