20 Apr 2024 10:47 am
Of course I did!R.Suave » 20 Apr 2024, 10:25 am » wrote: ↑ I have a sneaking suspicion that you didn't...
Focusing on real wages - which are difficult and contentious to measure conclusively - also ignores the politically simpler fact that people just don’t like inflation. Even if they are materially better off - as many low-income households likely are - inflation produces uncertainty which erodes the feeling of security that traditionally attends an increasing income.
It's not rocket science to know that the lower income groups spend a larger percentage of their income on basics such as food, rent and energy.
From 2019 to 2023, the all-food Consumer Price Index (CPI) rose by 25%—a higher increase than the all-items CPI, which grew 19.2% over the same period. Transportation costs grew 27.1%. In 2022, food prices increased faster than any year since 1979.Mar 19, 2024
Rent prices are now 30% higher than they were before the pandemic, but rental growth seems to have slowed from the major spikes of 2021. In March, rents are 3.6% higher than at the same time last year. The average growth in 2018 and 2019 was 4.1%.Apr 10, 2024
Don't worry, that hand print upside your head will fade!