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Inflation’s Wild Ride | Inflation has surged and moderated since the pandemic. As the presidential election approaches, politicians are focused on who is to blame. How did we get here? (www.nytimes.com)

submitted 3 months ago by silence7@slrpnk.net to c/usa@lemmy.ml

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Price increases have slowed, but getting used to new price levels could take time for consumers.

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[–] WraithGear@lemmy.world 6 points 3 months ago (6 children)

So just to clarify, we didn’t gain ground. All the shock of the inflation is still with us in ways that actually matters, like things are still crazy expensive, the only difference now is that things get more expensive… a little bit slower. But still vastly outpaces wage growth?

[–] silence7@slrpnk.net 4 points 3 months ago* (last edited 3 months ago) (5 children)

Inflation of 3% per year is lower than median wage growth; it's generally considered somewhat desirable because it transfers wealth from lenders (who tend to be well-off) to borrowers (who are less so)

[–] jacksilver@lemmy.world 4 points 3 months ago

I don't know why you're getting down voted, inflation and wage growth are two different things. Inflation is around targeted levels, which is good. Wage growth still being low or suppressed isnt great, but a different matter.

Its true that getting inflation under control doesn't fix high relative prices, but it does stop them from getting higher.

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