this post was submitted on 16 Mar 2024
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[–] tal@lemmy.today 4 points 7 months ago* (last edited 7 months ago) (1 children)

It’s not inflation

It's definitely inflation. Normally, we see around 2% annual inflation.

Here's what it's done recently in the US:

https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm

It's not as bad as it was in 2022 and early 2023, but it's still high relative to the norm.

That's not necessarily bad; it was in significant part driven by the Federal Reserve holding rates down during COVID-19. If that hadn't happened, there might have been a recession, lot of people losing jobs back then.

[–] xkforce@lemmy.world 2 points 7 months ago

And then 5 trillion more were dumped in by congress. Half during the Trump admin and almost that much under Biden's