June [July] inflation

according to the article you posted, this is the wrong question. The $8500 was for a household.

 

LOL. Simple Yes/No question.

Based on this:

Inflation forcing Americans to spend $709 more per month versus 2 years ago


Inflation is forcing Americans to spend $709 more per month on everyday goods and services than they did just two years ago, according to the chief economist at Moody’s Analytics.

“The high inflation of the past 2+ years has done lots of economic damage,” Mark Zandi tweeted on Friday following the release of the Consumer Price Index — a closely-watched measure of inflation that tracks changes in the costs of everyday goods and services.

The CPI rose moderately, to 3.2% in July versus a year earlier.

“Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago,” Zandi added.

 

Everything I've seen demonstrates neg real wage growth for the most part over the last 2 years. FYI

 

Ok, so sounds like you're saying the $8500 figure is based on CPI. Now, how are they defining a 'typical household'?

 

I would assume this:

Household spending

 

Yeah his own BLS link shows that median real income in Q2 2021 was at $371 per worker. Median real income in Q2 2023 was at $365 per worker. I don't know why he doesn't just focus on that. Probably because it doesn't make it sound bad enough.

 

LOL. It doesn't sound bad enough? I guess I'd try to change the subject when you can't account for prices rising $8,500 in 2 years per household. That's a big number. But keep downplaying inflation, it's a bold move Cotton.

 

How is talking about real income between 2021 and 2023 trying to change the subject? It is the subject. Do you even know what we are talking about?

 

You don't want to answer the question. Simple Yes/No. Wonder why you won't answer it...

 

I'd need to know what the median income was 2 years ago vs now to answer the question.

 

Did it rise $8,500? Go look it up somewhere.

 

Yes.

 

Ok awesome. Now show me. I’ll take an article or something showing it.

 

Ok, here's numbers for 2021 showing median household income of $70,784 in 2021.

Income in the United States: 2021).

And here's 2023 numbers showing $81,340 for 2023.

Median Household Income In March 2023 | Seeking Alpha

So looks like median household income increased by about $10,500 or so between 2021 and 2023.

 

lol @ 95’s remedial math skills.