How Accurately is Inflation Being Reported?

Member since 2023 · 6 posts · 10 votes

An interesting read: https://www.biggerpockets.com/blog/federal-reserve-to-lower-rates-six-times-says-ing-economics?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%2012/07/23

I’ve seen a few headlines of this, where some economic analysis “experts” are predicting large interest rate cuts. As this article mentions ING Economics released a report about a week ago claiming the Fed will cut rates 6 times over 250bp over the course of 2024 – 2025. I personally don’t see Inflation coming down to the Fed’s target of 2% anytime soon despite what some reports may claim. Just from day-to-day life from gas and grocery prices these days compared to a couple of years ago, prices are significantly higher today. Reports claim the inflation rate today is around 3.1-3.2% but I definitely think the average consumer feels this to be much higher.

What do you you’ll think, is inflation at an accurate spot according to the reports and will we face heavy cuts potentially in 2024?

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Matthew CrivelliBusiness Member

Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes

Every mainstream prediction has been wrong in the last few years. First we had transitory inflation in 2021, then we were told growth will slow in 2022, then we had a 100% probability of a recession in 2023, now we are being told that we are going to see a soft landing and the fed is going to drop rates. lol it's like opposite day around here with these predictions.

A few things to note - the treasury yields are still inverted, government spending is still out of control, the consumer is being squeezed with debt payments, student loans, cost of living hikes, and inflation is above the target goal. Oh and not to mention we haven't seen a recession in 15 years.

I'm taking the experts opinion with a grain of salt and articles like this are laughable....

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Account Closed
Rental Property Investor · New Braunfels, TX · Member since 2022 · 408 posts · 408 votes
2y
Quote from @Josh Sidhu:

What do you you’ll think, is inflation at an accurate spot according to the reports and will we face heavy cuts potentially in 2024?

The inflation # is no where near accurate. I predict we will see things in 2024 that this country has never seen. Hang on tight.
3 Reply
Albert Hasson
Investor · Paradise Valley, AZ · Member since 2012 · 361 posts · 214 votes
2y
Gas is cheap, rent prices decreasing, home prices moderating, inflation is obviously coming down compared to 9% rate we saw earlier this year. Why would you doubt the inflation numbers?
1 Reply
Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
2y
Quote from @Josh Sidhu:

An interesting read: https://www.biggerpockets.com/blog/federal-reserve-to-lower-rates-six-times-says-ing-economics?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%2012/07/23

I’ve seen a few headlines of this, where some economic analysis “experts” are predicting large interest rate cuts. As this article mentions ING Economics released a report about a week ago claiming the Fed will cut rates 6 times over 250bp over the course of 2024 – 2025. I personally don’t see Inflation coming down to the Fed’s target of 2% anytime soon despite what some reports may claim. Just from day-to-day life from gas and grocery prices these days compared to a couple of years ago, prices are significantly higher today. Reports claim the inflation rate today is around 3.1-3.2% but I definitely think the average consumer feels this to be much higher.

What do you you’ll think, is inflation at an accurate spot according to the reports and will we face heavy cuts potentially in 2024?

These headlines / articles are the dumbest articles I have ever read. The FED NEVER SAID THAT!!!

I lose all credibility for anyone that posts articles like this (not this post but that article). Regarding inflation, they changed how it was calculated at the beginning of 2023.

If you really want to calculate inflation, track your monthly bills. Most people buy a lot of the similar products every month. Are you paying more or less and is it going down?

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Robin SimonBusiness Member
Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
2y
Quote from @Josh Sidhu:

An interesting read: https://www.biggerpockets.com/blog/federal-reserve-to-lower-rates-six-times-says-ing-economics?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%2012/07/23

I’ve seen a few headlines of this, where some economic analysis “experts” are predicting large interest rate cuts. As this article mentions ING Economics released a report about a week ago claiming the Fed will cut rates 6 times over 250bp over the course of 2024 – 2025. I personally don’t see Inflation coming down to the Fed’s target of 2% anytime soon despite what some reports may claim. Just from day-to-day life from gas and grocery prices these days compared to a couple of years ago, prices are significantly higher today. Reports claim the inflation rate today is around 3.1-3.2% but I definitely think the average consumer feels this to be much higher.

What do you you’ll think, is inflation at an accurate spot according to the reports and will we face heavy cuts potentially in 2024?

I would check out truflation, which is an independent data tracker which has been pretty accurate and is doing a lot of interesting stuff on the question
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Account Closed
Rental Property Investor · New Braunfels, TX · Member since 2022 · 408 posts · 408 votes
2y
Quote from @Albert Hasson:

Why would you doubt the inflation numbers?
Because the people telling you the inflation numbers are changing the way they calculate the inflation # in order to make it look better🤷‍♂️
7 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @Josh Sidhu:

An interesting read: https://www.biggerpockets.com/blog/federal-reserve-to-lower-rates-six-times-says-ing-economics?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%2012/07/23

I’ve seen a few headlines of this, where some economic analysis “experts” are predicting large interest rate cuts. As this article mentions ING Economics released a report about a week ago claiming the Fed will cut rates 6 times over 250bp over the course of 2024 – 2025. I personally don’t see Inflation coming down to the Fed’s target of 2% anytime soon despite what some reports may claim. Just from day-to-day life from gas and grocery prices these days compared to a couple of years ago, prices are significantly higher today. Reports claim the inflation rate today is around 3.1-3.2% but I definitely think the average consumer feels this to be much higher.

What do you you’ll think, is inflation at an accurate spot according to the reports and will we face heavy cuts potentially in 2024?

There are to things to say here:
1. Fed already give dot-plot projection tht they would cut 75bps in 2024. This one is fixed and clear
2. remember the indicator that Fed uses is CPE, but it's counted YoY, all indicators are YoY. So you may see some price still going up, but that follows the normal trend. Inflation would always rise beween 2-3% YoY, that's given.
0 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @Account Closed:

Quote from @Josh Sidhu:

What do you you’ll think, is inflation at an accurate spot according to the reports and will we face heavy cuts potentially in 2024?

The inflation # is no where near accurate. I predict we will see things in 2024 that this country has never seen. Hang on tight.

I predict we will see things in 2024 that this country has never seen---> going to be wild in 2024........ :-)

lets see is Bank of America or Schwabb can still operate in 2024, maybe they can.

0 Reply
Albert Hasson
Investor · Paradise Valley, AZ · Member since 2012 · 361 posts · 214 votes
2y
Quote from @Account Closed:

Quote from @Albert Hasson:

Why would you doubt the inflation numbers?
Because the people telling you the inflation numbers are changing the way they calculate the inflation # in order to make it look better🤷‍♂️
Conspiracy theory nonsense. The agency tasked with reporting inflation data and unemployment rates is non partisan. Just look at the price of gas, it’s obvious that inflation is down significantly.
2 Reply
Account Closed
Rental Property Investor · New Braunfels, TX · Member since 2022 · 408 posts · 408 votes
2y
Quote from @Albert Hasson:

0 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @Account Closed:

Quote from @Albert Hasson:

Inflation is always counted YoY with long term trend between 3 to 5%.

It just means The YoY in 2023 is declining compare to YoY in 2022.
Of course it's still high because your wage doesn't grow as fast as inflation and in reality actual price is still up.

Hope you don't understand the concept.

The only way for individual to go againts inflation is having primary that has no mortgage or you don't pay anything for housing..
also in reality, inflation just means a devaluation of currency, price is not going up, but your dollar value declines, againts material and labour.....
0 Reply
Matthew CrivelliBusiness Member
Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
2y
Every mainstream prediction has been wrong in the last few years. First we had transitory inflation in 2021, then we were told growth will slow in 2022, then we had a 100% probability of a recession in 2023, now we are being told that we are going to see a soft landing and the fed is going to drop rates. lol it's like opposite day around here with these predictions.
A few things to note - the treasury yields are still inverted, government spending is still out of control, the consumer is being squeezed with debt payments, student loans, cost of living hikes, and inflation is above the target goal. Oh and not to mention we haven't seen a recession in 15 years.
I'm taking the experts opinion with a grain of salt and articles like this are laughable....
[email protected]413-348-8346
Freedom Capital Funding, LLC523 Reviews
Website View Page
7 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @Matthew Crivelli:

Every mainstream prediction has been wrong in the last few years. First we had transitory inflation in 2021, then we were told growth will slow in 2022, then we had a 100% probability of a recession in 2023, now we are being told that we are going to see a soft landing and the fed is going to drop rates. lol it's like opposite day around here with these predictions.
A few things to note - the treasury yields are still inverted, government spending is still out of control, the consumer is being squeezed with debt payments, student loans, cost of living hikes, and inflation is above the target goal. Oh and not to mention we haven't seen a recession in 15 years.
I'm taking the experts opinion with a grain of salt and articles like this are laughable....

One thing for sure we see more unemployment and default in 2024 lol
1 Reply
Scott Reigns
Member since 2023 · 35 posts · 50 votes
2y
A very interesting read for sure, new to the platform, thanks for sharing it!
0 Reply
V.G JasonPro Member
Investor · Member since 2022 · 3k+ posts · 3k+ votes
2y
Quote from @Matthew Crivelli:

Every mainstream prediction has been wrong in the last few years. First we had transitory inflation in 2021, then we were told growth will slow in 2022, then we had a 100% probability of a recession in 2023, now we are being told that we are going to see a soft landing and the fed is going to drop rates. lol it's like opposite day around here with these predictions.
A few things to note - the treasury yields are still inverted, government spending is still out of control, the consumer is being squeezed with debt payments, student loans, cost of living hikes, and inflation is above the target goal. Oh and not to mention we haven't seen a recession in 15 years.
I'm taking the experts opinion with a grain of salt and articles like this are laughable....
This.

Basically, anything that the experts are predicting, etc., take with a grain of salt. If anything, assume completely different. People expected a hard landing in 2023; therefore there was no hard landing because companies got in front of it. Basically, where we think it'll go in 3-6 months we are preparing for now. And due to that behavior it keeps kicking that can down the road. The market is going to expect to Fed to pivot & price that, then the Fed will hold on to pivot a bit too late and will have to be more drastic with it.

Once people realize the initial, inconsequential fed .25bps pivot is completely useless we will probably bleed and force to redirect course aggressively. I fully expect a hard, but shallow and quick, landing after the initial pivot.
3 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @V.G Jason:

Quote from @Matthew Crivelli:

Every mainstream prediction has been wrong in the last few years. First we had transitory inflation in 2021, then we were told growth will slow in 2022, then we had a 100% probability of a recession in 2023, now we are being told that we are going to see a soft landing and the fed is going to drop rates. lol it's like opposite day around here with these predictions.
A few things to note - the treasury yields are still inverted, government spending is still out of control, the consumer is being squeezed with debt payments, student loans, cost of living hikes, and inflation is above the target goal. Oh and not to mention we haven't seen a recession in 15 years.
I'm taking the experts opinion with a grain of salt and articles like this are laughable....
This.

Basically, anything that the experts are predicting, etc., take with a grain of salt. If anything, assume completely different. People expected a hard landing in 2023; therefore there was no hard landing because companies got in front of it. Basically, where we think it'll go in 3-6 months we are preparing for now. And due to that behavior it keeps kicking that can down the road. The market is going to expect to Fed to pivot & price that, then the Fed will hold on to pivot a bit too late and will have to be more drastic with it.

Once people realize the initial, inconsequential fed .25bps pivot is completely useless we will probably bleed and force to redirect course aggressively. I fully expect a hard, but shallow and quick, landing after the initial pivot.

ya and when the inverted curve is being normalized, say 30y is higher than 2y then that's the sign that recession and stock market crash is always happening hahaha ;-) it's very counter intuitive, we are in similar time to where bear stearns being wiped out in 2008
thing is , we are at the longest inverted curve ever for the last 30 years so chance are actually higher, but since everyone is waiting for that, it may happen (or not) lol
one thing for sure is we have more layoffs in 2024 and that would impact physiologically speaking how investor put their money moving forward.
1 Reply
V.G JasonPro Member
Investor · Member since 2022 · 3k+ posts · 3k+ votes
2y
Quote from @Carlos Ptriawan:

Quote from @V.G Jason:

Quote from @Matthew Crivelli:

Every mainstream prediction has been wrong in the last few years. First we had transitory inflation in 2021, then we were told growth will slow in 2022, then we had a 100% probability of a recession in 2023, now we are being told that we are going to see a soft landing and the fed is going to drop rates. lol it's like opposite day around here with these predictions.
A few things to note - the treasury yields are still inverted, government spending is still out of control, the consumer is being squeezed with debt payments, student loans, cost of living hikes, and inflation is above the target goal. Oh and not to mention we haven't seen a recession in 15 years.
I'm taking the experts opinion with a grain of salt and articles like this are laughable....
This.

Basically, anything that the experts are predicting, etc., take with a grain of salt. If anything, assume completely different. People expected a hard landing in 2023; therefore there was no hard landing because companies got in front of it. Basically, where we think it'll go in 3-6 months we are preparing for now. And due to that behavior it keeps kicking that can down the road. The market is going to expect to Fed to pivot & price that, then the Fed will hold on to pivot a bit too late and will have to be more drastic with it.

Once people realize the initial, inconsequential fed .25bps pivot is completely useless we will probably bleed and force to redirect course aggressively. I fully expect a hard, but shallow and quick, landing after the initial pivot.

ya and when the inverted curve is being normalized, say 30y is higher than 2y then that's the sign that recession and stock market crash is always happening hahaha ;-) it's very counter intuitive, we are in similar time to where bear stearns being wiped out in 2008
thing is , we are at the longest inverted curve ever for the last 30 years so chance are actually higher, but since everyone is waiting for that, it may happen (or not) lol
one thing for sure is we have more layoffs in 2024 and that would impact physiologically speaking how investor put their money moving forward.
Layoffs + still very high cost of capital. I mean .25bps isn't changing your rate to borrow money, it's still way too high to function. I'm progressively buying more debt and locking this in. If people think this investment rate is sustainable, then I don't know where they are living. Look around, people are getting trimmed. Everything is getting way too unaffordable and everyone is struggling.
2 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @V.G Jason:

Quote from @Carlos Ptriawan:

Quote from @V.G Jason:

Quote from @Matthew Crivelli:

Every mainstream prediction has been wrong in the last few years. First we had transitory inflation in 2021, then we were told growth will slow in 2022, then we had a 100% probability of a recession in 2023, now we are being told that we are going to see a soft landing and the fed is going to drop rates. lol it's like opposite day around here with these predictions.
A few things to note - the treasury yields are still inverted, government spending is still out of control, the consumer is being squeezed with debt payments, student loans, cost of living hikes, and inflation is above the target goal. Oh and not to mention we haven't seen a recession in 15 years.
I'm taking the experts opinion with a grain of salt and articles like this are laughable....
This.

Basically, anything that the experts are predicting, etc., take with a grain of salt. If anything, assume completely different. People expected a hard landing in 2023; therefore there was no hard landing because companies got in front of it. Basically, where we think it'll go in 3-6 months we are preparing for now. And due to that behavior it keeps kicking that can down the road. The market is going to expect to Fed to pivot & price that, then the Fed will hold on to pivot a bit too late and will have to be more drastic with it.

Once people realize the initial, inconsequential fed .25bps pivot is completely useless we will probably bleed and force to redirect course aggressively. I fully expect a hard, but shallow and quick, landing after the initial pivot.

ya and when the inverted curve is being normalized, say 30y is higher than 2y then that's the sign that recession and stock market crash is always happening hahaha ;-) it's very counter intuitive, we are in similar time to where bear stearns being wiped out in 2008
thing is , we are at the longest inverted curve ever for the last 30 years so chance are actually higher, but since everyone is waiting for that, it may happen (or not) lol
one thing for sure is we have more layoffs in 2024 and that would impact physiologically speaking how investor put their money moving forward.
Layoffs + still very high cost of capital. I mean .25bps isn't changing your rate to borrow money, it's still way too high to function. I'm progressively buying more debt and locking this in. If people think this investment rate is sustainable, then I don't know where they are living. Look around, people are getting trimmed. Everything is getting way too unaffordable and everyone is struggling.

totally agree with you, shall just move to debt investment.
Only 10% of S&P company could work with Fed rate of 4%. We could be entering the 1980 recession era if they don't react fast lol the layoff is mindblowing.
0 Reply
V.G JasonPro Member
Investor · Member since 2022 · 3k+ posts · 3k+ votes
2y
Quote from @Carlos Ptriawan:

Quote from @V.G Jason:

Quote from @Carlos Ptriawan:

Quote from @V.G Jason:

Quote from @Matthew Crivelli:

Every mainstream prediction has been wrong in the last few years. First we had transitory inflation in 2021, then we were told growth will slow in 2022, then we had a 100% probability of a recession in 2023, now we are being told that we are going to see a soft landing and the fed is going to drop rates. lol it's like opposite day around here with these predictions.
A few things to note - the treasury yields are still inverted, government spending is still out of control, the consumer is being squeezed with debt payments, student loans, cost of living hikes, and inflation is above the target goal. Oh and not to mention we haven't seen a recession in 15 years.
I'm taking the experts opinion with a grain of salt and articles like this are laughable....
This.

Basically, anything that the experts are predicting, etc., take with a grain of salt. If anything, assume completely different. People expected a hard landing in 2023; therefore there was no hard landing because companies got in front of it. Basically, where we think it'll go in 3-6 months we are preparing for now. And due to that behavior it keeps kicking that can down the road. The market is going to expect to Fed to pivot & price that, then the Fed will hold on to pivot a bit too late and will have to be more drastic with it.

Once people realize the initial, inconsequential fed .25bps pivot is completely useless we will probably bleed and force to redirect course aggressively. I fully expect a hard, but shallow and quick, landing after the initial pivot.

ya and when the inverted curve is being normalized, say 30y is higher than 2y then that's the sign that recession and stock market crash is always happening hahaha ;-) it's very counter intuitive, we are in similar time to where bear stearns being wiped out in 2008
thing is , we are at the longest inverted curve ever for the last 30 years so chance are actually higher, but since everyone is waiting for that, it may happen (or not) lol
one thing for sure is we have more layoffs in 2024 and that would impact physiologically speaking how investor put their money moving forward.
Layoffs + still very high cost of capital. I mean .25bps isn't changing your rate to borrow money, it's still way too high to function. I'm progressively buying more debt and locking this in. If people think this investment rate is sustainable, then I don't know where they are living. Look around, people are getting trimmed. Everything is getting way too unaffordable and everyone is struggling.

totally agree with you, shall just move to debt investment.
Only 10% of S&P company could work with Fed rate of 4%. We could be entering the 1980 recession era if they don't react fast lol the layoff is mindblowing.
They will pivot hard and fast. Just let that first .25bps blip come and people realize this is pointless, it does absolutely no good. 2-3 months later, max 4 months. You will see strong pivot. Rates have to be no higher than 4 going into Q4 and that has to have seasoned for at least 2 months ideally 3. Rates have to be at 3.5-ish by end of q1 2025. Or businesses cannot function.
0 Reply
Mike Dymski
Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
2y
Inflation is 0.5% over the past six months or 1.0% annualized, which is below the Fed's mandate of 2%. That is why they are pivoting/pausing.

Whether or not people are struggling or whether or not wages are keeping up with medium or longer term inflation is different issue.
2 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
If the Fed maintain FFR 200bps level above core PCE for 12 months, for sure inflation would go down as cost of money is higher than cost of goods lol.

however, if Fed is patient, they could just keep the rate same as core PCE, but at the same time, they could just short the oil futures so no American job would be impacted.
0 Reply
Albert Hasson
Investor · Paradise Valley, AZ · Member since 2012 · 361 posts · 214 votes
2y
Quote from @Carlos Ptriawan:

Quote from @Account Closed:

Quote from @Albert Hasson:

Inflation is always counted YoY with long term trend between 3 to 5%.

It just means The YoY in 2023 is declining compare to YoY in 2022.
Of course it's still high because your wage doesn't grow as fast as inflation and in reality actual price is still up.

Hope you don't understand the concept.

The only way for individual to go againts inflation is having primary that has no mortgage or you don't pay anything for housing..
also in reality, inflation just means a devaluation of currency, price is not going up, but your dollar value declines, againts material and labour.....

0 Reply
Albert Hasson
Investor · Paradise Valley, AZ · Member since 2012 · 361 posts · 214 votes
2y
Quote from @Carlos Ptriawan:

Quote from @Account Closed:

Quote from @Albert Hasson:

Inflation is always counted YoY with long term trend between 3 to 5%.

It just means The YoY in 2023 is declining compare to YoY in 2022.
Of course it's still high because your wage doesn't grow as fast as inflation and in reality actual price is still up.

Hope you don't understand the concept.

The only way for individual to go againts inflation is having primary that has no mortgage or you don't pay anything for housing..
also in reality, inflation just means a devaluation of currency, price is not going up, but your dollar value declines, againts material and labour.....

Yes, the inflation rate is down YOY to 3.1% vs. 9% last year. Many things are less now vs. 12 month’s ago. Gas and rent are two main ones that come to mind.
0 Reply
Marcus Auerbach
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
2y
What many seem to misunderstand about inflation is that prices are not going back to where they were. They think because prices are still high, "that must still be the inflation" and when its "over" prices go back to where they were.
Inflation is the rate of price increase compared to a year ago. Or the other way around the devaluation of currency. So you need to bring more paper to buy the same goods and services you needed to bring a year ago.
And inflation is good for REI: hard assets like houses (tied to cost of labor, cost of materials) go up in price ("value" is still the same) while loans and cash are equally devaluated.
Good news is that the last few months wages have been growing faster than inflation, which is beginning to restore purchasing power. Good news for your RE portfolio.
3 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @Marcus Auerbach:

What many seem to misunderstand about inflation is that prices are not going back to where they were. They think because prices are still high, "that must still be the inflation" and when its "over" prices go back to where they were.
Inflation is the rate of price increase compared to a year ago. Or the other way around the devaluation of currency. So you need to bring more paper to buy the same goods and services you needed to bring a year ago.
And inflation is good for REI: hard assets like houses (tied to cost of labor, cost of materials) go up in price ("value" is still the same) while loans and cash are equally devaluated.
Good news is that the last few months wages have been growing faster than inflation, which is beginning to restore purchasing power. Good news for your RE portfolio.

true, it is the rate of changes of inflation that's being measured , but not the cost of the good itself.
which create a good point, if we wait long enough, even without fed increasing rate, the inflation would go down by itself because logically speaking a price can't go up in the same vertical off-shoot. And problem with covid inflation is mainly just typical logistical supply demand issue as they are not ready, so i think Fed is unwise when they increase the rate (after they print money so much) too high too fast, they could just say oh we will have automatic policy where we will maintain 25bps to core CPE, then the policy would be making more sense.
0 Reply
Jeremiah Dunakin
Member since 2022 · 186 posts · 192 votes
2y

I don’t know a lot I’m a simpleton. Here is what thoughts are. We live in a society that does value work. From the top down there is encouragement not to work. Culture has dictated less work more money. This is a recipe for disaster. At my shop we just went through a union contract. The new hires wanted the whole world given to them and they loathe seniority. This also goes in the public sector. We have an administration that has encouraged people not to work. The labor shortage is very real. This causes not as much to be produced and what is being produced is more expensive because of labor cost.
A short while ago I bought gas for 1.60 and a family pack of chicken thighs were 4.00. So I could go to work and eat dinner for 5.60. Today it’s 3.00$ gallon and 8 dollars for thighs. Same trip 11.00$ yes it’s doubled. Ground beef was 1.75/ 2.00 lbs. now it’s 6.00+ a lot. A 2x4 is 3$ plus used to 1.66$. This is true inflation forget all the metrics. That is just accounting. Most Americans are paying twice what they used to pay for stuff. Rent is through the roof. The cost to borrow money to invest is insane. Look at the price of a new truck compared to 5 years ago. Co pays at the hospital is higher. My work insurance is about to go up 25%. A few years ago I could go to McDonald’s get a double cheeseburger and a medium chocolate shake3.50 now it’s 8$ and it takes twice as long to get it
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