"The typical American household must spend an additional $11,434 annually just to maintain the same standard of living they enjoyed in January of 2021, right before inflation soared to 40-year highs, according to a recent analysis of government data.This is insane.But the government continues to insist that inflation is low. On Tuesday, the Bureau of Lying Statistics told us that prices have only risen 3.2 percent over the past 12 months…Data released by the Bureau of Labor Statistics on Tuesday showed prices rose 3.2 percent over last year, slightly outpacing forecasts of 3.1 percent. Prices also rose 0.4 percent in February over the previous month — in line with expectations, but still hotter than economists would like to see.If you believe that, there is a bridge in California"
Well, according to official data inflation in 2021 was 7%, and in 2022 6.4% and in 2023 3.4.
This means that since 2021 prices must have raised by at least 17,5% and that is OFFICIAL . According to Motio Research the estimate of median household income in January 2024 was $77,397 while at the beginning of 2021 the median household income was $67,521, which gives a difference of +$9,876.00
This means that the median household in the USA would be worst of by $1,940.00
Note. Average is not a good measure of concentration as is affected by extreme values (the incomes of the 1%)
So, at most the median household in the USA can be expected to be worse of by $1,940.00 and not by $11,434.00 as suggested by the post in reference.
.
.
106,270.00
At the end
At the end of 2020 median household income was $67,521
