The people who told you inflation is only 8% are lying through their teeth. I dont have access to enough data to back that claim with evidence, but anecdotally I track my income and spending to the cent and I can tell you that at least for the set of goods I consistently buy every year inflation is much higher than 8%. My 2025 cost me 15% more than my 2024 did, even after excluding all of the 2025 spends that could be considered lifestyle upgrades to my 2024 financials. I dont know how that compares to my 2026 yet for sure, but its absolutely more than 8% inflation
mechoman444@lemmy.world 3 days ago
So I don’t like dealing with “trust me bro” arguments but I think you’re confusing what inflation actually is.
Current U.S. Inflation Rates: 2000-2026 share.google/KYoH4YRuDcDl8tJje
But here’s an official link to what the inflation rate is and was.
The reason you’re feeling like things are significantly more expensive despite the relatively small inflation rate is that inflation works somewhat like compound interest.
For example, if a product cost $100 in 2025 and inflation was 5%, the price would rise to $105. If inflation is then 2.3% in 2026, that 2.3% increase is applied to the $105 not the original $100. The new price would be about $107.42.
That’s why a lower inflation rate doesn’t mean prices are going back down. It simply means they’re increasing at a slower rate.
Prices generally don’t go down just because inflation falls. They go up more slowly. The notable exceptions are things like gasoline and hand grenades.
Gust@piefed.social 3 days ago
The inflation numbers you linked are aggregated from DoL releases, which is an agency headed by a member of the executive. You may as well have cited economic data from the silmarillion for all the credibility it added to your argument, from my point of view.
mechoman444@lemmy.world 3 days ago
Your distrust if the official source is irrelevant. Completely. That’s the information literally every single financial institution is using regardless of it being real or not.
share.google/7t3RegNapCQ2Awhkr - us congress share.google/F2BIAgdWq9SC9IQwm - usfacts share.google/YFvXxBKn6r8Er14XU
It’s 3.4%. across the board. Believe it or not it’s a fact.