Secondly: I have a strong distrust of the current US government heads and will take this with a boatload of salt until factual evidence is provided and vetted.
Thirdly: This is showing the increase of inflation compared to the same point of time of last year, and not the cumulative inflation. Meaning the overall inflation that has been acumulated over the decades/century, leading to a percentage of less buying power per (US) dollar. So while the inflation rate might be 3%, that’s just looking at a short timeline and not the overall value the US dollar.
In my experience the only thing we buy regularly that hasn’t substantially increased in price in the last year is gasoline. Just about ever kind of food is substantially more, electricity has gone way up. Clothing prices are significantly more and as everyone who’s renting knows, rents have gone nuts. There is no way we’re spending 3% more than a year ago, it’s more like 8%.
Bottom line, I don’t believe anything that’s coming out of a Trump controlled agency is remotely accurate. He is already claiming prices are down by 300%-3,000%. I’m just waiting for him to say, “There’s no inflation if we don’t count the prices that have gone up.”
In my experience the only thing we buy regularly that hasn’t substantially increased in price in the last year is gasoline.
Not likely to last long, however. Gas prices in the US have been stabilized for a little while by tapping the strategic petroleum reserve.
Trump announced just a couple days ago that the government is planning to shift to replenishing the reserve, which means that the gas prices will soon be more directly dictated by market rates.
Firstly: Here’s the link to the chart. (US) Consumer Price Index https://www.bls.gov/cpi/
Secondly: I have a strong distrust of the current US government heads and will take this with a boatload of salt until factual evidence is provided and vetted.
Thirdly: This is showing the increase of inflation compared to the same point of time of last year, and not the cumulative inflation. Meaning the overall inflation that has been acumulated over the decades/century, leading to a percentage of less buying power per (US) dollar. So while the inflation rate might be 3%, that’s just looking at a short timeline and not the overall value the US dollar.
I found this webpage to be very informative. https://smartasset.com/investing/inflation-calculator
In my experience the only thing we buy regularly that hasn’t substantially increased in price in the last year is gasoline. Just about ever kind of food is substantially more, electricity has gone way up. Clothing prices are significantly more and as everyone who’s renting knows, rents have gone nuts. There is no way we’re spending 3% more than a year ago, it’s more like 8%.
Bottom line, I don’t believe anything that’s coming out of a Trump controlled agency is remotely accurate. He is already claiming prices are down by 300%-3,000%. I’m just waiting for him to say, “There’s no inflation if we don’t count the prices that have gone up.”
Not likely to last long, however. Gas prices in the US have been stabilized for a little while by tapping the strategic petroleum reserve.
Trump announced just a couple days ago that the government is planning to shift to replenishing the reserve, which means that the gas prices will soon be more directly dictated by market rates.