Indeed. Just because things have settled back down to a lowish inflation rate now, doesn’t mean the damage to average Americans' standard of living hasn’t already been done. The people as a whole are probably around 10% worse off than they were before all this inflation kicked in.
When inflation was roaring, wages didn’t keep up, for the most part. Further, the inflation rate most commonly used did not capture many things people spend a lot of their money on.
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Agree x 4
Last edited: Jul 21, 2023