this post was submitted on 16 Mar 2024
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It's not inflation - it's price gouging by corporations. Wages aren't going up nearly as quickly as corporate profits.
It's definitely inflation. Normally, we see around 2% annual inflation.
Here's what it's done recently in the US:
https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm
It's not as bad as it was in 2022 and early 2023, but it's still high relative to the norm.
That's not necessarily bad; it was in significant part driven by the Federal Reserve holding rates down during COVID-19. If that hadn't happened, there might have been a recession, lot of people losing jobs back then.
And then 5 trillion more were dumped in by congress. Half during the Trump admin and almost that much under Biden's