Subnostr

Inflation has been roughly +11.5% per year since 2017 according to ChapwoodIndex.com, which reports the unadjusted actual cost and price fluctuation of the top 150 items on which Americans spend their after-tax dollars in the 50 largest cities in the nation.

I don't think we noticed it until wages stagnated in 2020, but prices have literally doubled since 2017.

Some maths will reveal +92% average total inflation from 2017-2023 and a projected +122% to now, meaning a $1.00 item from Jan 2017 will cost on average $2.22 now in Apr/May 2024.

Reply to this note

Please Login to reply.

Discussion

James A Lewis 1y ago

Note: I ran the numbers two ways, and I think because of some reporting issues they had in 2020, some missing data is causing a moderate error. If you multiply left, then average, it comes out to 108% total over the 7-years, but averaging and then taking it to the 7th power, you get 92%. It does make sense that the error is in the direction.