this post was submitted on 30 Jan 2025
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The primary problem is most people don’t understand inflation. Inflation is the speed at which things get more expensive. There is always creep up.
That’s what the 3% “cost of living” yearly raise is supposed to cover. It’s not really a “good job” raise, it just keeps your wage exactly the same as the prior year alongside inflation. Another thing a lot of people don’t understand, but that’s a bit of a digression.
So. Inflation speeds or slows but never reverses. Prices never go back down unless there’s recession. When the DC people talked about the economy being good they meant, in part, that inflation was fixed. We were back to 3%. The problem with that is it doesn’t bring down the price of anything. It only means that prices stopped jumping up so high compared to 2019.
So this idea that 2016 prices would return with Trump is based in a misunderstanding of economics. Prices don’t go back down.
In fact, like the COVID jump, I wouldn’t be surprised if the egg industry left prices up once the avian flu passes.