The term “real” means the values are adjusted for inflation
...which is notorious for using a dogshit basket and basket-update methodology to make the number look good.
> The term “real” means the values are adjusted for inflation
And that is the cause behind so much distrust in politics these days!
The problem is, sure, inflation as a whole using the official metrics may "only" be 3% YoY.
But WHAT THE FUCK does that have to do with the reality of the 99%, who see their grocery bill, their gas bill, their rents increasing far, far more than "official inflation" says?
The inflation basket includes way too much stuff people buy like, what, once every two decades like new kitchen appliances. It is of no use for me if that price stagnates.
How does inflation explain $5/gallon gas or $3,000 single bedroom apartment rent or $300 grocery bills for a few grocery bags or $50 to ship small packages or any other ridiculous cost increases we experience?