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Inflation Feels So Much Higher Than Official Numbers

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the staff of the Ridgewood blog

Ridgewood NJ,  new inflation numbers were just released for July and they show 3.2% inflation since last year, and 15% higher prices since Biden came into office. But almost no one in the middle class believes these numbers. Why? The CPI measures hundreds of different products and takes a composite of the price changes for all of them.

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Inflation-adjusted Wages and Salaries declined 3.3 percent for the 12 months ending March 2022

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the staff of the Ridgewood blog

Washington DC, , Compensation costs for civilian workers increased 1.4 percent, seasonally adjusted, for the 3-month period ending in March 2022, the U.S. Bureau of Labor Statistics reported today.

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Raising Inflation Is Shrinking Take-Home Pay

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the staff of the Ridgewood blog

Ridgewood NJ, this week’s report on earnings and inflation from the Bureau of Labor Statistics Usual Weekly Earnings Summary (bls.gov) contains more bad news for workers:

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What State Gives You the Biggest “Bang For Your Buck”

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New Jersey Trails Hawaii, Washington DC, New York and California for lowest buying power

the staff of the Ridgewoood blog

Ridgewood NJ, according to the Tax Foundation prices for the same goods are often much cheaper in the more rural areas of states like Missouri or Ohio than they are around large cities in states like New York or California. As a result, the same amount of cash can buy you comparatively more in a low-price state than in a high-price state.

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