Good News, 199,000 New Jobs. Bad News, Net household wealth fell by about $1.3 trillion. Also, we saw Household debt rose 2.5%. Why then are we not in great shape? Inflation is still an ugly creature that hurts us all. Look what’s happened since January of 2021.
To get a more accurate sense of how prices have risen, CNBC looked at consumer price index data since April 2021 to see how much more Americans are actually paying for everyday items.
In that time, the cost of essentials like groceries, utilities and gas increased by 20% or more. The cost of all items on the index increased by 13% in that time.
The value of holdings of real estate increased $500 billion, while equity values declined $1.7 trillion. This means that your real-estate is more valuable, but stocks and your other valuables have decreased.
