H
harddriver
Well-known member
Dave Brat
@brateconomics
·
Dec 14, 2023
Total U.S. Cumulative Inflation (inflationdata.com)
As you can see from the chart below, compounding something for over 100 years at 3.24% will result in well over 2000% (cumulative) inflation.
Notice, PRICES only go up on graph BELOW, way UP !!!
The Consumer Price index (CPI-U) for January 1913 was 9.8. The CPI-U for July 2022 was 296.276. This means that something that cost $9.80 in January 1913 would cost $296.28 in July of 2022!
In the 1970s, it was 7.25%, and in the 1980s, inflation averaged 5.82%. Each of those decades was especially hard economically for people trying to make ends meet.
Since prices increased but wages didn’t keep up. So far in the 2020s, the average annual inflation is 4.75%, so if this continues, we could be in for a rough decade.
@brateconomics
·
Dec 14, 2023
Total U.S. Cumulative Inflation (inflationdata.com)
As you can see from the chart below, compounding something for over 100 years at 3.24% will result in well over 2000% (cumulative) inflation.
Notice, PRICES only go up on graph BELOW, way UP !!!
The Consumer Price index (CPI-U) for January 1913 was 9.8. The CPI-U for July 2022 was 296.276. This means that something that cost $9.80 in January 1913 would cost $296.28 in July of 2022!
In the 1970s, it was 7.25%, and in the 1980s, inflation averaged 5.82%. Each of those decades was especially hard economically for people trying to make ends meet.
Since prices increased but wages didn’t keep up. So far in the 2020s, the average annual inflation is 4.75%, so if this continues, we could be in for a rough decade.