And then inflation on groceries is really 15%, but they tell you it’s 3.5.
They measure inflation by commodity prices, not shelf prices. Basically how much more the corporations have to pay, while the consumers are paying proportionally far more.
I thought the consumer price index was based on retail prices?
Maybe I dont actually know what I’m talking about, but I highly doubt the nation’s top economists care what consumers are paying
That’s the entire concept, though? Inflation is the increase in the price of goods and services, so if they don’t care about it, they picked the wrong profession. Taking note of it doesn’t necessarily mean they care about the wellbeing of the average person. It affects spending and the profitability and whatever else of corporations and therefore the wealthy overlords.
Most of their metrics concern things that disproportionally benefit the rich. We’re talking about the economists who say low unemployment rates are a bad thing because it can contribute to inflation.
The goods and services they care about are commodity prices and btb services. They don’t care about retail prices. Those are a tiny sliver of their metrics, if they’re used at all.
That’s why you might see the price of something double and yet “inflation” is still in the single digits. Because the commodity prices didn’t double, the corporations are just scalping them.
I get what you’re saying, but it’s a fact that official inflation numbers are based on the consumer price index, which is about retail prices. Of course that affects business’ bottom line and profitability? Not giving a fuck about consumers being happy is one thing but that’s not the point when it’s about companies making money. They have to sell it to a consumer to make money in the end.
https://www.federalreserve.gov/faqs/economy_14419.htm
This states they pay attention to multiple measures of costs for individuals as well as producers.
I wonder how the CPI is weighted with other factors like commodity prices.
No, they changed how it’s measured so great value is the same as lays
Do you mean shrinkflation?
Wage theft is the most lucrative theft there is.
How appropriate.
I would rather buy a lifetime pass to jellyfin for $0.
I’d never buy one at these rates. I have one from back when it was $75, just waiting until they release plex2 or some shenanigans to sunset the legacy lifetime pass holders.
Wow, they want to make lifetime not an option then! I think it was £90 when I grabbed it. And then I was a little regretful because people were getting deals from time to time half that.
Yeah, I grabbed the “all decks always” for Evil Apples (sorta like Cards Against humanity as an app, but better) very early when it was $10, up from an original $5.
Last I checked it was $200+ 😄
Second year in a row I get “exceeds expectations”, can’t wait for that juicy 3.1%!!
On the other hand, I find it funny that the past two years I’ve been doing the bare minimum at work, sometimes not even that and my boss has been very happy with my performance 🤷🏼♂️
I have this situation as well. I slack off as much as possible and everyone thinks I’m going above and beyond. It’s very interesting. I like it a lot.
I work for a state government. We didn’t get a raise last year because the lovely politicians couldn’t be bothered. And this year they are splurging and giving us 3%. Yay….
3% once in 3 years.
Of course upper management got their giant fucking bonus.
Back in the day everyone used to get the bonus.
Everything needs to be burned down
I like the way you think.
Assuming this is USD, inflation has ranged between 2-4% over the past few years. It peaked at just over 9% during covid. That being said, wage growth has been about the same.
Nah! This year we’re doing great! How’s 5% sound like!? Eh? Its almost double last year!
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