For most people, the company they work for is also enduring an increase in costs from their vendors, and salary increases often take a backseat to keeping supplies inbound. Multiyear lease agreements and many support contracts get pegged to CPI for annual increases, meaning budgets will have to increase for these basics. Since everything is competing for the same pot of money, inflation generally means you paycheck is worth less and you'll be lucky to see a timely increase to account for it.
From BLS: "In June, the Consumer Price Index for All Urban Consumers rose 0.9 percent on a seasonally adjusted basis; rising 5.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.9 percent in June (SA); up 4.5 percent over the year (NSA)." https://www.bls.gov/cpi/
Re:Why do people hate inflation?
by bravetraveler on Wednesday July 14, 2021 @09:51AM
(#27832977)
That's a good thing to raise, hadn't considered it. The top end of things has outside pressure too
I'm really fortunate, my employer has been around forever and survived many things like this...
The pressure has landed here, differently. There's a certain human pattern in play where performance from everyone has been expected to skyrocket
Those are obvious physical effects, but this is basically what happens to your money.
At best, you _might_ get a cost of living raise anywhere from six months to a year from now. Anxiety is understandable.