Re:Why the 2% Inflation Target? (2023)
by derangedHorse on Saturday March 23, 2024 @10:34AM
(#39800228)
> real wages rose during the 2% inflation period
There is no consistent "2%" inflation period. If a year were to have 6.5% inflation (like with year 2022-2023), most firms will not raise real wages to match it. Over the last decade we've had a 2.82% average inflation rate with 4.41% variance showing how much we overshot both metrics.
There is no consistent "2%" inflation period. If a year were to have 6.5% inflation (like with year 2022-2023), most firms will not raise real wages to match it. Over the last decade we've had a 2.82% average inflation rate with 4.41% variance showing how much we overshot both metrics.
source: https://www.usinflationcalculator.com/inflation/consumer-pri...