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this post was submitted on 20 May 2025
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What is 80$ in 1991 worth today? calculateme says 190$ adjusted for inflation (in 2025).
What about the minimum wage? dol.gov says $4.25, or $10.08 adjusted for inflation. Since 2009 it's $7.25.
7.25/10.08 = 0,72 or 10.08/7.25 = ~1,40
80/60 = 1.33
So we have a decrease in minimum wage by 30%, but an increase of product price by 30%.
Is this correct? Does that make it 60% more expensive than his personal analogy from 1991?
Man, the two-sided percent reference point is confusing.
I guess a better way to compare this, is the time you needed to work for the product.
So in 1991: 80 $ / 4.25 $/h = 18.82 h
In 2025: 80 $ / 7.25 $/h = 11.03 h.
Don't forget that today, people have less spare money due to skyrocketing housing costs and various other fixed expenses...
Greedflation on necessities like food, utilities, housing etc etc.