Yesterday, the Consumer Price Index report came out showing that the CPI increased by 8.5% (seasonally adjusted) year-over-year. This means that the CPI is 8.5% higher than it was in July 2021.
Wages were 5.5% higher, so you only lost 3% in buying power. Haha. Sorry.
[I personally find this incomprehensible as every commodity and food stuff I look at is wildly more expensive over the last year than 8.5% — eggs are up by 40% — but that’s just me.] Continue reading