People got this wrong about inflation as well. In 2020 there was actual deflation, and in 2021 there was very minimal inflation, meaning prices were still largely lower or similar as 2019. Then we saw 9% inflation in 2022. Total inflation in 2024 vs the 2019 benchmark was around 15%. Or 3% average per year, which is barely over the baseline. People just hear 9% inflation, completely missing the fact that this was a YoY number relative to the Trump recession.
And then there was that bogus article that said Argentina had lowered it’s inflation to 2% and you find out in the article that’s monthly inflation and the yearly figure was like 190%.
Drag doesn’t know exactly what the problem is, but the official inflation figures cannot be right. Housing is so much more expensive. Food is more expensive. And it’s not 9% more expensive. Drag knows they say the math takes into account the price of rent, but they’ve gotta be lying somehow. It’s impossible that the cost of living is rising so much faster than inflation. Those should be the same. If they’re not the same, someone’s math is wrong.
I keep track of my grocery bills going on 10 years now and 14-15% is spot on for what I buy.
