AOC says inflation is propaganda

People do buy rocking chairs. Not many and the index reflects that.

 

people also buy lobster tails, but the average consumer can’t afford them. So, including lobster tails in a grocery index is a way of manipulating the numbers, assuming the price of lobster tails doesn’t increase simultaneously with bacon, milk, and cheese.

 

Dude you clearly don’t understand CPI. I will grant you people don’t perceive inflation the same way CPI tracks it. But CPI reflects the average basket of spending.

 

Maybe some of these posters should understand that CPI is a flawed metric. People thinking that $200 worth of groceries last year is only up $6 in a year are so removed from reality.

What Are Some Limitations of the CPI?.

It may constitute a relatively good measure of price changes in the specific goods in its basket. However, one limitation of the CPI is that the consumer goods it considers do not represent all production or consumption in the economy. Therefore, as a basic economic barometer, the CPI is inherently flawed.

 

On what planet to you extrapolate that I don’t understand the CPI by my post in which I say that consumers don’t need the CPI to determine inflation? Try harder Dude.

 

Thank you for proving my point. First… We are talking groceries so you need to use the “food at home” bucket that takes restaurants out. Second.. i did the math for you since right wingers don’t understand data. I expect a full and complete apology since we are using the same data now proving what War said was right.

 

Don’t believe your eyes. Believe your leaders.

 

lol what in the world is this person talking about lobster tails and inflation??

A lot of people don't seem to understand how we track inflation.

 

See my post above that you wont understand nor be correct about after you read: War was clear the one year food inflation rate was being discussed. Shake your head all you want but you are dead wrong. Want to revise a timeline or change a comparison go ahead… but the one year inflation rate for food at home has totally moderated.

 

Anyhow, food inflation increase the last 10 years:


Food Inflation in the United States (1968-2023)

Yes, obviously inflation has slowed this year. It's not as if all of a sudden items are cheaper though. Food items still experienced an increase in prices without any decreases. Wages are still very far behind.

 

Yea. If you go to Feb 2020 you see an 18.5% wage increase and a 24% food price increase. That’s 5.5% faster.. converts to an $11 increase with very little of that coming in the last year where wages are up 4%.

 

Where do you get your numbers from? 18% wage growth increase??

Anyhow, here is a chart of wage growth vs inflation:

Wage growth vs inflation U.S. 2023 | Statista

Inflation is starting to heat up thanks mostly to fuel and energy which has a ripple effect on most of everything else we buy daily. Wage growth will likely start to slow as well as we are slowly seeing the labor market weakening.

 

FRED report of BLS wages and I took Feb 2020 compared to August 2023.

Average Hourly Earnings of All Employees, Total Private

 

LOL. Keep saying food prices only went up $6 on a $200 bill. I'll keep laughing at you. As will everyone else who actually goes and buys groceries weekly.

 

I get it. You dont believe data. Ive seen that from you on the covid thread too. Keep debating based on your "feels". Makes you look genius.

 

LOL. You mean me being correct that Lockdowns, school closures, masks, and vaxxing kids were all a complete joke? Then yes I was a genius for being right about that. Thanks for admitting it. I showed proof that prices have risen more than $6 per $200 spent. It's ok, you keep thinking inflation is doing awesome. We'll keep laughing at you.

 

What proof? You didn’t show anything.

Don’t mischaracterize my argument. My argument is inflation can be measured and it’s rise is documented. The last year has been 3%. Your feels don’t matter.

 

do you want to try to do some math again, and this time read my post and use honest math, not that woke crap you apparently used here.

Try Harder

 

There is literally not a single person you will meet or talk to at the swamp on a Saturday that will look at you and affirm an any item in their house has only increased in price 3%. But cpi cpi. Stop it. You’re a smart guy and I doubt You even believe it. no way you have left your house in last 365 days and even one time conclude prices are up 3%. I know I know. Border is fine. Crime really isn’t up even though Morgan and Morgan are now running commercials for “are you a victim of violent crime”. Sure they run those commercials when violent crime is down. But CPI. But macro economics tells us that blah blah.

 

Data = Woke Crap.... UF"Lawyer"'s opinion with zero math is apparently honest math. Im mesmerized by your dazzling argument.