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All Mixed Up

(597 posts)
50. Over the last 30 years, the average inflation rate is around 2%.
Wed Apr 10, 2024, 06:19 PM
Apr 10

We're still well above that.

To put that into context, the average for 2023 was 4.1%. Not counting the proceeding two years of Biden's term, that alone would be the highest average yearly inflation the US has seen since 1991, where it was 4.2%.

Right now, we're at an average of of about 3.3% the first three months of 2024 (and it's increased each month so far this year - from 3.1 in January, to 3.2 in February to 3.5 in March).

Excluding 2021, 2022 and 2023, that 3.3% average would be the highest yearly inflation average since 2008 (3.8).

Now I'm not even getting into the 8.0 average we saw in 2022, which was the highest yearly average since 1981.

The problem is that the US saw an incredible run of low inflation. From 2009 to 2020, the highest yearly average was in 2011 at 3.2. But that was just a blip.

2009: -0.4 (we actually saw deflation after the recession)
2010: 1.6
2011: 3.2
2012: 2.1
2013: 1.5
2014: 1.6
2015: .1
2016: 1.3
2017: 2.1
2018: 2.4
2019: 1.8
2020: 1.2

In just three years, from 2021 through 2023, the average inflation rate jumped by 16.8 points.

From 2011 to 2020, nine years, that rate only jumped by a total of 17.3 points.

In just three years, inflation jumped by nearly the same amount as the previous nine years combined on average.

That's why these numbers are not good. Because costs are already extremely high, especially compared to where they were in the 2010s.

If we were looking at a situation where 2021, 2022 and 2023 were, on average, 3.5 points - you'd have a point. It wouldn't be as big of a deal. Maybe some concern that the market was a bit too hot but nothing to be terribly concerned about.

Now, though? They're still well above normal when you factor in the last 30 years.

And the trend is ticking up, which should be the bigger concern here.

But the truth is that people are feeling it and high inflation persists because we're still seeing a decent-ish increase each month. At least compared to the last 30 years.

High? at 3.4%? The kids writing headlines don't remember the 1970s bucolic_frolic Apr 10 #1
Really, when I needed to borrow money, interest was 16%. When I had money to invest, interest of 0% Walleye Apr 10 #2
Exactly Rebl2 Apr 10 #54
In 1979 Mme. Defarge Apr 10 #15
I think I had 7% in 1987. LiberalFighter Apr 10 #52
We paid ours off early too. Mme. Defarge Apr 10 #66
Inflation is not just up 3.5%. All Mixed Up Apr 10 #16
Inflation is measured annually or month to month bucolic_frolic Apr 10 #17
It doesn't matter how it's reported. All Mixed Up Apr 10 #18
So what you're saying is we need a recession to break even. bluesbassman Apr 10 #23
Such a recession was tried in Britain in the 1920s DBoon Apr 10 #45
It's not even about breaking even.. All Mixed Up Apr 10 #53
Sure, but over the last 50 years the average annual inflation rate is around 3.8% Voltaire2 Apr 10 #29
Over the last 30 years, the average inflation rate is around 2%. All Mixed Up Apr 10 #50
Poster is correct... cumulative inflation up 18% since January 2021. WarGamer Apr 10 #24
However, If Using The 40 Year Historical... ProfessorGAC Apr 10 #42
see #24. You're correct. WarGamer Apr 10 #25
historic US inflation rates Celerity Apr 10 #51
Tech workers are seeing some of the highest layoffs since 2009! jmbar2 Apr 10 #3
As a long-time tech worker, this is kind of overdue. Technologies do change, and Industries do move onto SWBTATTReg Apr 10 #28
I never really recovered from that era jmbar2 Apr 10 #35
Sorry to hear this, that's the field I started in, in training, which is weird, I hadn't been in software (my degree) SWBTATTReg Apr 10 #55
Roughly translated - werdna Apr 10 #4
Bingo orangecrush Apr 10 #48
Morning Joe had a focus group of independant doc03 Apr 10 #5
The power of propaganda constantly repeated made obvious. Without any doubt, it works. Marcus IM Apr 10 #7
I'm very confused Mad_Machine76 Apr 10 #33
It all is about inflation. nt doc03 Apr 10 #34
Deflation from lockdowns NickB79 Apr 10 #38
The inflation rate in 2021 and 2022 was a direct result of the Covid pandemic. patphil Apr 10 #60
I wrote about this last week here, gab13by13 Apr 10 #6
Ok see how you like fascism idiots. triron Apr 10 #8
Yes, but we have to experience fascism at the same time Silent3 Apr 10 #14
According to the economy Flatrat Apr 10 #9
I love when inflation is talked about ScratchCat Apr 10 #10
Bingo! Exactly gab13by13 Apr 10 #12
I was telling people in spring 2021 ScratchCat Apr 10 #21
The farmer near me that sells excess eggs raised his prices 50%. This is not just big corporations. Silent Type Apr 10 #47
I have chickens & chicken feed keeps going up womanofthehills Apr 11 #67
That's what he said when he announced increase, cost of feed. Silent Type Apr 11 #68
When we have inflation during Republican administrations, it's an unstoppable force of nature 0rganism Apr 10 #26
From what i read..... TheRealNorth Apr 10 #11
Did you see, gab13by13 Apr 10 #13
Let's hold off calling for nationalization of oil until after the election. I want Dems to win. Silent Type Apr 10 #19
we're nearing $6/gal again in SoCal WarGamer Apr 10 #37
Saw oil is up around $90/barrel again NickB79 Apr 10 #39
I stopped watching CNN after the Trump town hall JuJuChen Apr 10 #20
Last month Avalon Sparks Apr 10 #22
I just purchased a 3lb bag of Honey Crisp apples. videohead5 Apr 10 #31
That is probably an exceptional sale price TheRealNorth Apr 10 #32
Yes videohead5 Apr 10 #61
Calculated today Avalon Sparks Apr 10 #57
I guess I'm more frugal videohead5 Apr 10 #62
Yes, and cheato also gave a clear senseandsensibility Apr 10 #27
Just the insignificant Truth Social sector Blue Owl Apr 10 #30
CNN has tanked ages ago malaise Apr 10 #36
I cannot pretend things aren't difficult Calculating Apr 10 #40
No: according to CNN the market dropped 500 points. brooklynite Apr 10 #41
Cmon! TheProle Apr 10 #43
A little misinformation there. It's a one-day report. ificandream Apr 10 #44
So they made it orangecrush Apr 10 #49
They did nothing wrong. ificandream Apr 10 #56
They've had plenty of articles on their main page about the market finishing at record highs... All Mixed Up Apr 10 #64
Very true. ificandream Apr 11 #70
You clearly don't remember the Fairness Doctrine brooklynite Apr 10 #65
Inflation is not some ethereal force angrychair Apr 10 #46
CNN? Who Dat? 🤔 LenaBaby61 Apr 10 #58
All electric Ford Mach-E codfisherman Apr 10 #59
It's election year and they want a horse race. Emile Apr 10 #63
As usual lower & mid income folks hurting - cost of borrowing is too high (interest rates) BUT TBF Apr 11 #69
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