So everyone is talking about this year’s US inflation, can anyone explain why it’s so important?
In: Economics
Inflation of 5% in May means that ~~everything was 5% more expensive at the end of May as it was at the start of May.~~ the average price of things overall rose by a rate in May that would come to 5% per year.
Considering that average wages haven’t gone up 5% in *years*, this is important.
(like others have said, this is a good sign in that it means people are spending more again, and good for people that have more debt than savings, but still kind of alarming over all)
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