Sadly it is pretty much everywhere in the world where living costs are skyrocketing, along with rents. Almost 50% of my salary now goes to rent and utility bills, and recently the food also got pretty expensive, it feels almost like 50-60% up, so I am spending a very big chunk of my salary to have a roof over my head and also to survive.
my rent went from just under 30% of my gross, to two-thirds of it–and that’s with a modest raise mixed in there. it was stable for twenty years (3 building owners during that time) before this new landlord. utility bill is about the same–with reduced consumption on my part helping that, but i can’t really go ‘down’ any more. cable (internet) is up. phone is up. groceries are at least double–and for less of it, as i hit the food pantry more frequently. it cost more than double for each trip to the laundry. the once or twice (at most) a week i get a little fast food or kwik trip is about the same–but that’s only because i just get less (i stick to my modest budget for that regardless of how much it buys).
I feel you, it really sucks how much more squeezed we are after Corona. This pandemic screwed us over big time.
Everything went up for everyone. Insurance, property taxes, contractor labor, materials, utilities, etc.
my landlord’s labor? hasn’t done shit in three years except slap on some paneling, lay down cheap carpet, and triple the rent on a couple ‘newly remodeled’ units. property taxes are down due to lower valuation on the property. utility bills (common areas, which are unheated) are stable, probably lower because of a perpetual vacancy and a couple tenants now being part-timers (less hot water use, lower gas bill for the building’s hot water heater).
"After a historic run-up in inflation, Americans are now starting to see something they haven’t in three years: deflation,” the Wall Street Journal reports.
“To be sure, deflation—that is, falling prices—is largely confined to appliances, furniture, used cars and other goods. Economywide deflation, when prices of most goods and services continuously fall, isn’t in the cards.”
“But economists say goods prices likely have further to fall, which will ease inflation’s return to the Federal Reserve’s 2% target, perhaps as early as the second half of next year"
yeah, all I can afford to do is go to work and go to the gym and sit around and pay money to maintain my vehicle which gets me to work and to the gym. Believe me there are a million other things I’d rather be doing.
What a puff piece. Cherry pick the highest inflation numbers, discount the equally-relevant wage side of the equation, end with a single person’s story instead of numbers.
Wages have been growing faster than inflation for a year and a half. They’re not caught up to all the inflation we have seen since the pandemic (yet) but they’re on the way. Completely ignoring that is bad reporting.
Can you show your sources about wages growing faster than inflation over the last year and a half?
