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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"So - here's how it works" Really? Using your example: "Last year, you needed a widget. Last year, widgets cost $9 each.
This year, the same widget is $3."
The most recent June year-over-year inflation rate was 3%. So a widget costing $9 last June would have cost 3% more this June or $9.27...not $3.00.