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Thread: June at 3%
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Old 07-13-2023, 08:13 AM
cjrjck cjrjck is offline
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Quote:
Originally Posted by OrangeBlossomBaby View Post
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.
What? Is this that "new math" I keep hearing about? If the annual inflation rate is 3% that widget is going to cost you $9 x 1.03 = $9.27, correct?