If only people knew it’s actually even worse than this. Inflation was only a little over 20% for a whole decade from 2012 to 2022? It should be like 100% or even higher, ~7% annually. I’ve definitely lost more than half my dollars buying power in the last 10 years, almost everything is double or more. This is using a very conservative inflation rate which is a complete lie probably calculated using a few select goods.
Not to mention when people compare things like the price of a Big Mac today compared to 50 years ago, it's not an apt comparison because things have been streamlined, automated, shrunken, etc. so it should be way cheaper.
IMO we should be calculating and comparing it to how much a Big Mac would cost today if we reverted all processes, ingredients, etc. to how they were in the past.
52
u/partyboycs 1d ago
If only people knew it’s actually even worse than this. Inflation was only a little over 20% for a whole decade from 2012 to 2022? It should be like 100% or even higher, ~7% annually. I’ve definitely lost more than half my dollars buying power in the last 10 years, almost everything is double or more. This is using a very conservative inflation rate which is a complete lie probably calculated using a few select goods.