Inflation’s Wild Ride | Inflation has surged and moderated since the pandemic. As the presidential election approaches, politicians are focused on who is to blame. How did we get here? (www.nytimes.com)

submitted 3 months ago by silence7@slrpnk.net to c/usa@lemmy.ml

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Price increases have slowed, but getting used to new price levels could take time for consumers.

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[-] silence7@slrpnk.net 1 points 3 months ago* (last edited 3 months ago)

Wages weren't stagnant though.

The key thing is that right now, wages are rising at about 4% per year, while prices are rising at about 3% per year. That's a good place to be.

[-] WraithGear@lemmy.world 1 points 3 months ago

I suppose you have a point, i may be confused with minimum wage, and my personal experience. The price hike on all goods seems to be independent from median wage

[-] silence7@slrpnk.net 1 points 3 months ago

Yes, the federal minimum wage hasn't risen; that's static and requires an act of congress to change. What happened is that the pandemic also gave a lot of people negotiating power, so the wages most people earn went up more than prices.

this post was submitted on 27 Jun 2024

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