Re:How Far Does $1 from 1999 Go Today?
by ghaff on Monday October 16, 2023 @09:54AM
(#37899930)
At the end of the day, you have some things that are a huge component of the CoL for some people (housing, car) that are fairly modest for others who have a paid-off mortgage or live in a LCoL area and either don't own a car or drive a paid-off old one.
Assuming the inflation of those items differ significantly from a broader basket of goods, there's no way to have a single measure that reasonably represents price increases for the two groups.
Assuming the inflation of those items differ significantly from a broader basket of goods, there's no way to have a single measure that reasonably represents price increases for the two groups.