There’s nothing that you can explain with that fact. Inflation is a measure of dollar value in relation to goods… including goods that you don’t actually need. Simply knowing that wages outpaced inflation tells you nothing about the economic conditions of individual people.
Here’s a more detailed breakdown, which DOES emphasize the things that everyone needs:
Real wages are up over the last 40 years and even more so over the recent period of above-baseline inflation.
There’s nothing that you can explain with that fact. Inflation is a measure of dollar value in relation to goods… including goods that you don’t actually need. Simply knowing that wages outpaced inflation tells you nothing about the economic conditions of individual people.
Here’s a more detailed breakdown, which DOES emphasize the things that everyone needs:
https://www.consumeraffairs.com/finance/comparing-the-costs-of-generations.html
i sure do love single permille growth yoy
That’s a tough claim to defend, today, while housing, transportation, and food cost more for so many people.