this post was submitted on 20 Aug 2023
1049 points (81.1% liked)
Memes
45622 readers
1253 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Inflation's been happening since currency was created. We don't notice day to day because the effects are stretched over a long period.
Try calculating the value of a 2010 dollar against the current 2023 dollar. You'll find the cumulative effect of ~5% inflation each year is significant.
In addition, periods exist throughout American history during which inflation has spiked noticably within a year or two - this is nowhere near the first time.