Inflation falls to 2.4%, lowest in three years

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It's a knob, dumbass

It's right next to the Gas Price Dial on the Resolute desk.

Why are you asking Lemmy? Wage growth has been outpacing inflation. You should be getting on that train yourself if you want it.

Someone is lying and I have a sneaking suspicion of who it is.

A/B headline testing in action.

Which one will get you to click through to the ads?

You misspelled price gouging.

Sure. But inflation is down, we didn't go into a recession, and wage growth has been outpacing inflation for over a year now.

This is good, we're going in the right direction. Deflation would be way worse.

Yeah but unfortunately that's never going to change. Inflation is the rate of increase and they always want a rate of increase, just at 2%.

It's never going to go negative because growth for the growth gods!! :(

You want a deflationary environment? Are you sure?

The economy would tank really hard if wet somehow deflated it to go back in time. It doesn't work like that.

Plus the last 5 years was almost entirely from covid anyway

That's just how inflation works though. Wages tend to rise slower than prices do. In economic terms, wages are "sticky." They rise and fall slower than prices do in response to market conditions. Long periods of slow gradual inflation are fine, as people simply demand that their wages rise at a steady 2-3% to keep up with inflation, and employers expect it. But if there is a sudden spike in prices, it's a lot harder for employees to suddenly negotiate wage increases. Instead, the slower process of labor market competition, employees leaving underpaying jobs for better paying jobs, has to take over. It's going to take a few years for wages to catch up with the spike in prices, but it does happen with time, primarily from people switching jobs.

Right! and now, amazing news! Our expenses are only growing at a rate of only 2.4%!! Hooray?!?

Oh they are still going up, just not as much.

Not sure why there are down votes here. It's an important fact to remember that inflation "falling" doesn't mean the cost of living is going down.

Whether reversing inflation is good or not isn't their point. The point is, living is still more expensive than last year and your wage hasn't been keeping up since the 70s.

This is why I come to Lemmy — for people with even a passing understanding of the topics on which they speak confidently.

The trick with inflation calculations is that they're tied to a specific basket of wholesale goods. So each individual ingredient in that bagged salad may not have gone up more than 2.4%. But the grocery store's corporate accountants have decided they can increase their margins with a 23% price hike.

That's not inflation, it's greedflation. And while we see wholesale prices remain low, we're watching profits soar.

Packaged salads have an insane markup on them, if you do them yoursef you can save more than inflation ;)

Inflation tracks the value of currency. Grocery store prices track how much corporations can charge you, imagine how bad it would be if the Krogers Albertson Merger wasn't stopped by the Biden Administration.