this post was submitted on 07 Nov 2024
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People are not goldfish with minds that reset every year. Per your own link, accumulative inflation is up 21.8% since 2020.
Are they goldfish with minds that reset every four years?
No. If you would look at the graph in the link you posted, you would see that 2020 is right before the huge spike in inflation. This sustained spike explains the current outrage over increased prices.
There was a two year spike. If you look at the graph in the link I posted, you would see that prices have been mostly going up as normal for almost two years now. When are people going to adjust to their mindset to the current prices?
When I get a 22% pay increase ill consider it
Good luck. What field are you in?
To make people happy, I think it would take a return to a running average of 2%. This requires a temporary drop below 2%, perhaps even to 0 or negative. Otherwise, you're just telling them to suck it up and embrace the new normal.
I'm not an economist, but from what I've heard in the past, 2% is basically ideal. Price deflation or inflation that's too low can indicate problems with the economy. Maybe this situation is different since we had really high inflation a couple years ago. But either way, I think it's unlikely that prices will drop. Kamala needed to promise super low taxes on the working class or something to make up for it.