Grappling7155 to Ontario · 1 year agoBy the numbers: Not seeing the inflation drop reflected in your wallet? You’re not alonetvo.orgexternal-linkmessage-square5fedilinkarrow-up112arrow-down10file-text
arrow-up112arrow-down1external-linkBy the numbers: Not seeing the inflation drop reflected in your wallet? You’re not alonetvo.orgGrappling7155 to Ontario · 1 year agomessage-square5fedilinkfile-text
minus-squareCaptainFlintlockFinnlinkfedilinkarrow-up2·1 year agoI’d like to see this year compared to two years ago. I’m no statistician so I don’t know how to do that math (do you just add the ~7% from last year and the ~3% from this year together?).
minus-squaremindcruzerlinkfedilinkEnglisharrow-up1·edit-21 year agoAlmost. An increase of 7% is: 1 + 0.07 = 1.07. A further 3% increase is 1.03 times that, which results in 1.07 x 1.03 = 1.102 or a 10.2% increase.
minus-squareCaptainFlintlockFinnlinkfedilinkEnglisharrow-up1·1 year agoThank you. So when they say inflation was ‘only’ ~3% they’re making it sound better than it really is. 🤮
I’d like to see this year compared to two years ago. I’m no statistician so I don’t know how to do that math (do you just add the ~7% from last year and the ~3% from this year together?).
Almost. An increase of 7% is: 1 + 0.07 = 1.07. A further 3% increase is 1.03 times that, which results in 1.07 x 1.03 = 1.102 or a 10.2% increase.
Thank you. So when they say inflation was ‘only’ ~3% they’re making it sound better than it really is. 🤮