Dramatic shift comes after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers
Sorry. Didn’t mean to sound condescending. When people say inflation may be low but prices are up generally means they think prices usually just fluctuate around a set number. As someone who also has a degree in economics, I tend to jump to informing people on what inflation is and who is on charge of dealing with it.
As for wages, those were indeed average increases which are not always or even usually the same as median. I do recall reading that median wages had finally gotten higher than pre-COVID levels a couple months ago adjusted for inflation. I’d provide a source but I’m currently at a children’s birthday party and don’t have great access to info at the moment.
YMMV depending on your state and region of course but most people are doing better than they were four years ago.
Sorry. Didn’t mean to sound condescending. When people say inflation may be low but prices are up generally means they think prices usually just fluctuate around a set number. As someone who also has a degree in economics, I tend to jump to informing people on what inflation is and who is on charge of dealing with it.
As for wages, those were indeed average increases which are not always or even usually the same as median. I do recall reading that median wages had finally gotten higher than pre-COVID levels a couple months ago adjusted for inflation. I’d provide a source but I’m currently at a children’s birthday party and don’t have great access to info at the moment.
YMMV depending on your state and region of course but most people are doing better than they were four years ago.