• jordanlund@lemmy.worldM
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    7 months ago

    The problem on your chart is the giant section where inflation peaked at 9% and wage growth was under 6%.

    That means a pay cut of 3%, and while inflation is reduced NOW, that doesn’t mean prices are going DOWN, they are simply going up less fast than they were when inflation was 9%.

    • EatATaco@lemm.ee
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      7 months ago

      Yes, I understand this point. Which is why I explicitly said “I know that’s of little comfort to those who have fallen behind and need to catch up.” I know that your point is always what follows, which is why I preempted it.

      Additionally, I was responding to a claim that wages have stagnated. This is not true, as my link shows, even if we are more strictly talking about inflation adjusted wages. So the link doesn’t have a “problem.”