We keep hearing about how controlled inflation is but in reality, we are seeing price increases in many important segments of our society. No inflation they say. Let us look at some key items.
The above introductory comments are edited excerpts from an article* by the editor of mybudget.com entitled No inflation they say: Increases from 2007 include rent going up by 27 percent, food increasing 12 percent, health insurance 42 percent.
The article goes on to say in further edited excerpts:
Inflation is definitely here
As long as wage inflation is happening at a similar pace to the overall rate of inflation in the economy…your standard of living doesn’t really change, yet when incomes are stagnant and costs go up, this is the recipe for problems down the road…
Let us take a look at cost changes since 2007:
…The above chart shows that incomes have not recovered for the middle class so there is no surprise in the down tick on spending…[and] that inflation is popping up in all corners of the economy.
Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
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