US Core inflation level lowest in 3 years

You live in your world and I'll live in reality!!
Yes, the economy may be humming right along, but that doesn't change the fact that your dollar doesn't go as far today as it did several years ago. I spent $35 on a case of cat food that cost about $12 a few years ago. But the ole economy, by the numbers is grand. You just keep preaching Bidenomics, no doubt it is a winner!!

 

See, that is the problem: you don't want to live in reality. Which is why you are here defending an obvious lie for so long.

True every year.

The interesting thing is that you choose to focus on the categories with the largest increases and label that "reality" but choose not to report on other categories, which may not have experienced such a large increase (BTW, pet food prices as a whole have not tripled either). That is why we have CPI, which has shown inflation but not to nearly the rate you appear to desire.

 

As I said, I will live in my reality and what my households spend on today's needs vs what we spent 2-3 years ago. That is reality, not what some graph may show. I chose to focus on what I spend my money on!

 

Okay, then lay out every one of your purchases with receipts from January 2021 and November 2023. Or, you aren't really doing what you are claiming and are substituting emotions for data, which you said not to do.

 

Whatever!!!! You think I'm going to lay out my purchases to some anonymous internet chronic poster? You can choose to believe it or not, I don't really care, but it doesn't change my reality one bit.

 

has your income went up in that 2 - 3 years?

 

You are only focusing on half of the reality. Why is that? Wages have gone up about as much as prices have. The reality is real wages are higher now than they were before the pandemic.

 

No they have not. I opened a new branch for a company 3 years ago and have struggled to get to a profitable outcome, through COVID and then increased costs. So no, my income has not increased.

 

then you are in the minority. nationally wage growth has exceeded inflation since 2020

Wage growth vs inflation U.S. 2023 | Statista

 

I would have thought the above observations would have gotten more commentary - TikTok young adults who think we are in a silent depression.

 

That's funny. Maybe I don't know how to read the graph. But wouldn't the base cost be going up by those inflations rates monthly? So, the 2 years that inflation outpaced wage growth 1.5-3%, the base costs were growing at inflation rate, won't it take 2 years of wage growth exceeding inflation by 1.5-3% to actually be where we were when inflation surpassed wage growth?

 

Okay, so you are apparently relying on emotion rather than data. That is fine. But you might not want to tell this poster:

 

Wow!!! I am looking at my own data from my books and speaking of my experience, yet you think you can tell me it is an emotional response not based on my own personal data about my own personal finances? Maybe I should just give my bank account number and you can peruse it and see where I am wrong.

 

the blind faith that people of all ages put in social media is disturbing

 

Okay, since you are looking at the data, can you provide me an example in which you are spending less than you were? Those categories exist, so let me know which ones have you experienced?

 

Bidenomics Winning? 60% Of Americans Report Their Income Does Not Keep Up With Inflation | ZeroHedge

 

Goods Deflation Is Back. It Could Speed Inflation’s Return to 2%.

Goods Deflation Is Back. It Could Speed Inflation’s Return to 2%.
Prices of durables have been falling for five straight months

Prices for long-lasting items, known as durable goods, have fallen on a year-over-year basis for five straight months. In October, they were down 2.6% from their peak in September 2022, according to data released Thursday by the Commerce Department.

That has helped bring down core inflation, which excludes the volatile food and energy categories, to 3.5% in October, from 5.5% in September 2022, as measured by the personal-consumption expenditures price index, the Fed’s preferred inflation gauge.

 

More Americans Tapping Into Retirement Savings As 'Hardship' Withdrawals Rise | ZeroHedge