… if you’ve been wondering how bad price increases are getting, here’s an infographic from CNN that puts things nicely (?) in perspective. Click the image for a larger view.
June’s consumer price index, calculated on a year-over-year basis, gives those figures. If you take the time to calculate the average percentage increase across all those products and services, year-on-year, it comes to 23%.
Twenty-three per cent.
Makes you think, doesn’t it?
Sure, many of us won’t be in the market – yet – for some of those products and services, so some of those increases won’t affect us for now. Nevertheless, averaged across all those sectors of the economy, that’s the reality of what we’re seeing. Those who claim that things may get as bad as in the Jimmy Carter years are being extremely hopeful, but they’re already out of date. If this continues, we’ll look on the Jimmy Carter years as having been havens of economic stability.
It’s going to get worse before it gets better – and it won’t get better under this feckless, spendthrift, incompetent, illegitimate, abysmally ideological administration. Brace yourselves.