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And if you see the above chart, about from 2007 to 2015 there were no real gains in household income. More specifically, income was not keeping up with inflation, even with government inflation being reported as low.
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IIRC, Fed Daly is the SF Fed president. It will be interesting to watch what the Fed will do in the coming months.
I can't imagine any woman being happy with opening that box.
I mentioned that the minimum wage increases for 25 States haven't worked their way through the economic system yet. This along the COLAs for social security and government employees and government retirees have boosted the Wall Street forecasts for the PCE indicator to the highest reading in about a year. These will continue to trickle through via higher rents especially. There are further State mandated pay hikes coming later this year as well.
https://finance.yahoo.com/news/fed-favored-inflation-gauge-seen-210000759.html
Canada. But it certainly is happening in the US. Half Gallon ice cream is long gone, Mac N' Cheese is 10-15% less in package size than a few years ago, etc.
All the pics of inflation above are at foreign stores. Looks like Britain.
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https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati
Frankly, I prefer my spaceship to have big tits and not fake inflated ones.
EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net