Is the only chance of reprieve to get paid more?
Inflation basically never goes in reverse to become deflation (you wouldn’t want it to anyway), so the sticker prices you see at the store will never go down (long-term). But when you account for inflation, cost of living has fallen before, and could fall again. People don’t notice it much but a lot of day-to-day goods we buy have gotten substantially cheaper over the last 40 years. The amount of a household’s budget that goes to food and clothing has gone down significantly since the mid 20th century. Minor luxuries like furniture and electronics have gotten much cheaper as well. TVs are the most notable example, they’re so cheap now that they’ve become disposable, the whole profession of “TV repairman” disappeared because it’s not even worth paying someone to fix a broken TV, you can just buy a new one for less than $100.
That’s all pretty nice, it’s just that all the savings we got from that was more than canceled out by the colossal rise in the prices of housing, healthcare, and college education.
Cost of living should never really go down but wages vs the cost of living should.
Bread used to be pennies for example and will likely never cost so little, but the average person makes in a month today is more than years back then too.
So prices should continue to rise but also wages. Unfortunately the wages part likely won’t happen without revolution or massive change in elections
Like a track runner in the olympic games. He (inflation) might speed up or slow down but he will never run backwards.
If he run backwards it’s A Very Bad Thing ^tm so hopefully he does not.
Get paid more; save more; spend less; move somewhere cheaper.
There is still chance I guess.
The entire nineteenth century saw the cost of living go down due to the industrial revolution. Productivity soared and people got richer at a pace previously unmatched in history. They even saw the dreaded price deflation and yet it wasn’t the doom and gloom so many still believe it would be.
Imagine the horror of lower priced consumer goods. I shudder just thinking about it.
The cost of living went way down during the Great Depression. That wasn’t a good thing. About 2% inflation is ideal.