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?

silence7@slrpnk.net · 5 months ago

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?

silence7@slrpnk.net · edit-2 5 months ago

The key thing is that right now, wages are rising at about 4% per year, while prices are rising at about 3% per year. That’s a good place to be.

WraithGear@lemmy.world · 5 months ago

I suppose you have a point, i may be confused with minimum wage, and my personal experience. The price hike on all goods seems to be independent from median wage

silence7@slrpnk.net · 5 months ago

Yes, the federal minimum wage hasn’t risen; that’s static and requires an act of congress to change. What happened is that the pandemic also gave a lot of people negotiating power, so the wages most people earn went up more than prices.