Replying to Avatar Jason SatSki

#asknostr can anyone provide data to show whether average US citizen buying power has increased or decreased in the past 5 years? I understand the USD had been debased from brr. Yet, a contrarian friend suggests the US economy had grown such that an average American with a job can buy more a basket of goods. Data please 🙏
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nobody 1y ago

U.S. purchasing power has decreased over the last 5 years:

- Inflation peaked at over 9% in 2022, outpacing wage growth.

- Real wages dropped about 3% during this time.

Sources: BLS, EPI, Atlanta Fed.

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