Inflation will cost the average US household $5,200 more in 2022: Report

[mystery-ak]

Inflation will cost the average US household $5,200 more in 2022: Report
by Heather Hamilton, Social Media Reporter
 | March 30, 2022 09:28 AM

Economists have now given rising inflation a suggested dollar amount for 2022 budgets.

When comparing the cost of goods and services in 2021 to expected costs this year, Bloomberg economists said the average U.S. household will spend $5,200 more, or $433 more per month.

“Accelerated depletion of savings will increase the urgency for those staying on the sidelines to join the labor force, and the resulting increase in labor supply will likely dampen wage growth,” Bloomberg economists Andrew Husby and Anna Wong said.

The economists also said increases in wages and built-up savings will cushion the rising costs.

more
https://www.washingtonexaminer.com/news/inflation-will-cost-the-average-us-household-5-200-more-in-2022-report

[catfish1957]

Inflation will cost the average US household $5,200 more in 2022: Report
by Heather Hamilton, Social Media Reporter
 | March 30, 2022 09:28 AM

Economists have now given rising inflation a suggested dollar amount for 2022 budgets.

When comparing the cost of goods and services in 2021 to expected costs this year, Bloomberg economists said the average U.S. household will spend $5,200 more, or $433 more per month.

“Accelerated depletion of savings will increase the urgency for those staying on the sidelines to join the labor force, and the resulting increase in labor supply will likely dampen wage growth,” Bloomberg economists Andrew Husby and Anna Wong said.

The economists also said increases in wages and built-up savings will cushion the rising costs.

more
https://www.washingtonexaminer.com/news/inflation-will-cost-the-average-us-household-5-200-more-in-2022-report

Inflation will cost the average US household $5,200 more in 2022
Pick your stat...

2021 Average household income- $97K
2021 Median household income- $68K

In either case, this translates to a 5-8% erosion of buying power and standard of living, at the hands and squarely on Joe Biden.  This is on average people.  Just think about the bottom quartile, who just might be working and are too proud to secure government aid. They are being destroyed. 

Put another "I Did That" sticker on that one Joe.

[rustynail]

So if Our Joe sends us a check for 5+k we will be even?

[catfish1957]

So if Our Joe sends us a check for 5+k we will be even?

Probably, but that will happen closer to election time to throw bread to the starving rabble.