return2ozma@lemmy.world to News@lemmy.world · 10 months agoAmericans need an extra $11,400 today just to afford the basicswww.cbsnews.comexternal-linkmessage-square33fedilinkarrow-up1376arrow-down130
arrow-up1346arrow-down1external-linkAmericans need an extra $11,400 today just to afford the basicswww.cbsnews.comreturn2ozma@lemmy.world to News@lemmy.world · 10 months agomessage-square33fedilink
minus-squareguyrocket@kbin.sociallinkfedilinkarrow-up27arrow-down1·10 months agoWhen pay significantly lags the cost of basics you’re gonna have a bad time. And inflation was more than 3% last month? Still adding insult to injury.
minus-squareMasterBlaster@lemmy.worldlinkfedilinkarrow-up23·10 months agoJust a note - that 3% is anualized. That means at the current rate, 12 months adds up to 3%. Still, point is valid.
minus-squareRanvier@sopuli.xyzlinkfedilinkarrow-up13arrow-down1·edit-210 months agoInflation was 3.2% from October 2022-October 2023. When it’s reported like that it’s an annualized rate. So it would be more accurate to say inflation was 3.2% over the last year. Inflation from September 2023-October 2023 was unchanged (0%). https://www.bls.gov/cpi/ Wage growth has also been ahead of inflation since January 2023. Inflation was outpacing wage growth from May 2021-Dec 2022 https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/
When pay significantly lags the cost of basics you’re gonna have a bad time.
And inflation was more than 3% last month? Still adding insult to injury.
Just a note - that 3% is anualized. That means at the current rate, 12 months adds up to 3%. Still, point is valid.
Inflation was 3.2% from October 2022-October 2023. When it’s reported like that it’s an annualized rate. So it would be more accurate to say inflation was 3.2% over the last year. Inflation from September 2023-October 2023 was unchanged (0%).
https://www.bls.gov/cpi/
Wage growth has also been ahead of inflation since January 2023. Inflation was outpacing wage growth from May 2021-Dec 2022
https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/