Posted on 04/12/2022 8:51:39 AM PDT by ConservativeInPA
The table of historical inflation rates displays annual rates from 1914 to 2022. Rates of inflation are calculated using the current Consumer Price Index published monthly by the Bureau of Labor Statistics (BLS). BLS data was last updated on April 12 and covers up to March 2022. The next inflation update is set to happen on May 11. It will provide historical inflation rates through to April 2022.
(Excerpt) Read more at usinflationcalculator.com ...
Do you wonder how today's inflation figures are compared to 1981? A: January 1982's inflation rate was 8.4% and inflation has been lower than that benchmark since, with the exception of today. If you go back to 1981, you'll see higher numbers, so Biden will be working hard to surpass those figures. He has always been an overachiever (sarcasm). Perhaps he is working his way back to March 1980, when inflation was at 14.8%; or March 1947, when it was 19.7% or perhaps, June 1920 at 23.7%.
Many would say he has already met these marks since inflation is not calculated the same way as in the past. You know and I know what it is like to go to the grocery store, gas pump and to pay bills. I only wish inflation was at 8.5%.
“Rates of inflation are calculated using the current Consumer Price Index”
Junk stats, since this standard has been changed during the period you are looking at.
This has pocket-book impact on all Americans. Hopefully the reset will start in November by replacing Democrats and RINOs that have facilitated Biden and Harris.
Many would say he has already met these marks since inflation is not calculated the same way as in the past.
The average doesn’t tell us much. If your feet are in the oven and your head is in the freezer your avg temp is still ok.
Agreed. It is an important point, since when solving any problem you need a clear definition of the problem to be solved or the wrong problem will be solved. Now to take a leap ... this is pure macroeconomics (sarcasm): government statistics cannot be used to define the problem. Government cannot be used to solve the problem. Just cut the government and government spending by 80%. That eliminates regulations that are a burden to productivity since regulations with either be removed or unenforceable. This eliminates the government spending which requires the Fed pursue quantitative easing (printing money). Quite simply there is too much money out there and whenever you have too much of something, it isn't worth much.
Well, I think the government cannot stop spending and printing money at this point, or we would have an almost immediate collapse. We will still get an economic collapse if they keep printing money, but they can delay it for a little while longer, even though every delay will make the eventual collapse even worse.
True, we all have to look at our personal household budgets.
My biggest expense, monthly housing expense, is fixed as I have a fixed rate mortgage. My late model car is paid for, and should give me many more years before I am in the market for a new car. Gas prices have zoomed up but I rarely drive long distsnces so that hasnt affected me too badly.
Everyone’s budget is somewhat different. Everyone should have a household budget and know where your money is going.
Correct. But I believe it is best to get it over with quickly and make sure the people most affected are the people responsible - lazy ass government employees that never worked a day in their lives and have never made anything. They need to feel the pain and the message needs to be sent that government jobs are no longer safe life employment with all perks and pensions.
This solution also provides freedom and liberty.
The March CPI-W released today is 283.176. That represents a six-month increase of 5.496% above the 3rd quarter 2021 average of 268.421. Social security’s next COLA will also factor in the as-yet-unknown CPI-W changes for the next six months but it’s clear that that COLA will be pretty hefty.
I think that other retirement systems likely also use this for determining their cost-of-living increases. Of course (for the reasons mentioned in comments above) this is never as large as true inflation.
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