Why 7% Inflation Today Is Far Different Than in 1982

Wjs ^ | 01/12/2022 | Greg Ip

[ChicagoConservative27]

Consumer price inflation in December, at 7%, was last this high in the summer of 1982. That’s about all the two periods have in common.

Today, the inflation rate is on the rise. Back then, it was falling. It had peaked at 14.8% in 1980, while Jimmy Carter was still president and the Iranian revolution had pushed up oil prices. Core inflation that year reached 13.6%.

[ChicagoConservative27]

Now we have have diaper head.

[Paladin2]

In celebration of such a low number I bought a new truck with a 40 gal. gas tank....

[Paladin2]

In 1982 that is.

[Armando Guerra]

Actually it is higher. How inflation was cacluclated then is different than now. If calculated as it was in 1982, inflation would be 15%.

http://www.shadowstats.com/alternate_data/inflation-charts

[Shanty Shaker]

Use the same formula used to calculate inflation that was used in 1982 and you will get a different sort of story.

[jdege]

The real difference is that we have had decades of the government redefining the way they do their numbers so we to how what's really going on.

http://www.shadowstats.com/

INFLATION - FLASH (Jan 12): Year-to-Year Increases Continued in the both the December 2021 Headline CPI-U and the ShadowStats Alternate CPI Measure, Hitting New Multi-Decade Highs

December CPI-U Annual Inflation Hit 7.04% [up from 6.81% in November], the Steepest Inflation Pace Since June 1980 (in 40 Years), When Ronald Reagan Was President; the ShadowStats “Corrected” Alternate Estimate Hit 15.15% [up from 14.91% in November], the Steepest Inflation Rate Since June 1947 (in 75 Years), When Harry Truman Was President

Using the unmodified definitions, that's 15% inflation, not 7%.

[Theoria]

Back then, the r and d plan to sell out America was still in the works. The process of opening trade with china, mexico was in the early stages. The chamber of commerce was gearing up to help promote business to the third world.

Now, we face a world, that has been built up by such actions. The spending is nonstop, the mass migration hasn't been fixed, and all of the problems of the past have gotten worse. Nothing has changed.

[Lurkinanloomin]

Communists were not fully in control of Fedzilla.

[Lurkinanloomin]

the mass migration hasn’t been fixed
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

It’s a feature, not a bug.
The fundamental transformation of the USA into North Mexico has been deliberate bipartisan policy for 30 years.

It is the primary reason both parties colluded to cheat Trump out.

[llevrok]

This worked for Gerald R Ford. I see no reason why Biden doesn't bring it back!

[backwoods-engineer]

This is JUST THE BEGINNING. Inflation will get much, much worse. And once the Demonrats deem-and-pass the “Never Elect Another Republican Again” Act, there is no end in sight.

[hardspunned]

I remember 1982 very well. Going to the grocery store then was never like it is now. Fortunately, after my COL social security increase minus my Medicare premium increase I got a net 1% increase to deal with inflation this year.

[eyedigress]

Libtards in charge.

Biden was always the idiot in the Senate. Libtards relate to that. Deep State loves it.

Deep State does NOT like a true leader of sense and morals.

[entropy12]

Actually it is higher. How inflation was calculated then is different than now. If calculated as it was in 1982, inflation would be 15%.

Needs repeating!

[entropy12]

15% real inflation - 1% net raise in SS = poorer by 14%.

[EC Washington]

In 1980 and all during the Carter years it was hard to find a decent job - no one was hiring. I was just out of school and was happy to find a full-time job with benefits at a grocery warehouse. Nothing was good about Jimmy Carter.

[hardspunned]

Yep, that’s what I found out at Kroger today.

[Organic Panic]

Back then they were more honest because they had to destroy Reagan. Now. They have to protect Biden. All things in my aggregate purchases are at least 40 to 50 percent higher then when the chomo was installed.

[MeneMeneTekelUpharsin]

Real inflation now is higher than in 1982.

[NetAddicted]

Yikes!