In the US, at least, the long term average is 3.10%, including the post-1913 Great Depression and the Oil Crisis/Great Inflation of the 1970s. From 1990-2020, the average has been 2.2%, just slightly worse than the stated goal of current US economic policy, which is to maintain long term inflation at a rate of 2%.
We had two consecutive years of 6-8% general inflation in Spain, and lots of raw food products almost doubled in size, and while that went down a while ago, they still stayed at a 30% increase. Salaries didn't increase though, most companies in my sector gave a fat round 0 increase as a baseline, then a 4-5% increase for people that excelled in performance.
Yeah we do earn way more than the minimum wage but we are basically earning less than last year, every year.
For what country?
In the US, at least, the long term average is 3.10%, including the post-1913 Great Depression and the Oil Crisis/Great Inflation of the 1970s. From 1990-2020, the average has been 2.2%, just slightly worse than the stated goal of current US economic policy, which is to maintain long term inflation at a rate of 2%.
Meaning, 3% beats inflation significantly more than half of the time, especially since 1990.
We had two consecutive years of 6-8% general inflation in Spain, and lots of raw food products almost doubled in size, and while that went down a while ago, they still stayed at a 30% increase. Salaries didn't increase though, most companies in my sector gave a fat round 0 increase as a baseline, then a 4-5% increase for people that excelled in performance.
Yeah we do earn way more than the minimum wage but we are basically earning less than last year, every year.