A long time ago, when people bought things, the prices didn't change much. But now, prices are going up faster than ever before. This means that if you had $100 back then, you would need about $129 today to buy the same stuff. The government measures how fast prices are changing and it has been rising a lot since 2021 because of some wars and problems with making things. People who earned money before might not be able to buy as much as they used to with their money, so they need more money now to keep up. Read from source...
- The article uses an arbitrary start point of January 2017 when Trump assumed his presidency, without providing any explanation or context for why this specific date was chosen. This creates a bias in the reader's perception of the inflation rate and its impact on different income groups. A more accurate analysis would use a broader time frame that covers both Democratic and Republican administrations, as well as other factors affecting the economy.
- The article relies heavily on assumptions and estimates based on unverifiable data sources, such as the Bureau of Labor Statistics and the 2022 census. These sources may have their own agendas or biases that influence the accuracy and reliability of the information presented. A more rigorous analysis would use multiple independent and verifiable sources of data to cross-check and validate the claims made in the article.
- The article uses emotional language and tone, such as "hurt the economy", "outbreak of the war in Ukraine", "supply chain disruptions" and "changes in consumer behavior during the COVID-19 pandemic". These words evoke strong feelings and reactions from the reader, but do not provide any concrete evidence or analysis to support the assertions made. A more objective and logical analysis would use factual data and statistics to demonstrate the causal relationships between inflation and other economic factors.
- The article does not account for any potential raises that may have been given between March 2022 and today, which could significantly impact the purchasing power of different income groups. This omission creates a false impression of the current state of the economy and the realistic expectations of workers and households. A more comprehensive analysis would include the effects of wage increases on inflation and consumer behavior.