this post was submitted on 25 Aug 2026
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Work Reform

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[–] 5318008@lemmy.ml 2 points 11 hours ago

There's nothing that you can explain with that fact. Inflation is a measure of dollar value in relation to goods... including goods that you don't actually need. Simply knowing that wages outpaced inflation tells you nothing about the economic conditions of individual people.

Here's a more detailed breakdown, which DOES emphasize the things that everyone needs:

https://www.consumeraffairs.com/finance/comparing-the-costs-of-generations.html