This headline is an outright lie.
Inflation did NOT rise 7.9% in February. Prices in the month of Feb rose 0.8%. What cost $100.00 on Jan 31 cost $100.80 on Feb 28.
The 7.9% is year-over-year. What cost $100.00 in Feb 2021 cost $107.90 in Feb 2022.
.
cnbc.com/2022/03/10/cpi…
Inflation did NOT rise 7.9% in February. Prices in the month of Feb rose 0.8%. What cost $100.00 on Jan 31 cost $100.80 on Feb 28.
The 7.9% is year-over-year. What cost $100.00 in Feb 2021 cost $107.90 in Feb 2022.
.
cnbc.com/2022/03/10/cpi…
This same article says "inflation-adjusted earnings fell 2.6%" from last year. This means (and it's in the article) earnings ROSE 5.1%. They got "inflation-adjusted earnings" by subtracting 5.1% from 7.9%.
We could also say wage-adjusted inflation was only a meager 2.6%.
We could also say wage-adjusted inflation was only a meager 2.6%.
(Yeah, I know, 7.9 - 5.1 is 2.8, not 2.6. There are rounding errors involved.)
The point is, do you want to make things look worse than they are? If so, this article shows how to do it.
The point is, do you want to make things look worse than they are? If so, this article shows how to do it.
Seriously, when you say the "real" inflation rate FOR FEBRUARY is 7.9% (by taking an annualized figure and pretending it applies to a month) and then the "real" wage change is a LOSS of 2.6% (by "adjusting" for inflation, without adjusting inflation for wages)--it's on purpose.
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