US inflation has increased about 18.6% overall and over 20% for food from 2020-2023 (3 years) and this is about the same overall inflation that happened from 2010 to 2020 (10 years).
This is the official data provided in an inflation calculator at officialdata.org.
The Bureau of Labor Statistics, St Louis Federal Reserve and other government reporting agencies report the overall inflation and components of inflation. This data is placed into the calculator.
Similar reporting is provided at nerdwallet and CNBC makeit.
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Most of that inflation was caused by supply disruptions caused by Covid 19 followed by food and fuel supply issues cause by russia invading Ukraine. Ukraine is a major exporter of food and russia is a major oiled gas exporter. Inflation has been high in most countries around the world a the same time. No single country can do that.
Strange that every well developed “western” economy has had about a decade’s worth of inflation in 3 years.
[ globally, ‘billionaires’ had a ~27% increase in fortune around and including pandemic time. This is probably paid with higher inflation to some amount, since
‘Meanwhile, the share of global wealth owned by billionaires has grown from 1% in 1995 to 3% in 2021.’
‘A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent.’
‘The world’s 2,153 billionaires have more wealth than the 4.6 billion people who make up 60 percent of the planet’s population, […]’
‘The data showed a “continuation of the long-term trend in the gradual increase in the proportion of self-made billionaires,”’
‘[…] captured a disproportionate share of global wealth growth over the past decades: the top 1% captured 38% of all additional wealth’
‘Total wealth of world’s billionaires has fallen to $12.7tn’
‘Wealth of world’s billionaires rose $5 trillion amid pandemic’
‘The global billionaire population continued to grow in 2021, increasing by 3%. Over the same period, billionaire wealth also increased by 18%.’
‘https://www.statista.com/statistics/620926/global-billionaire-population-by-region/’
North America (~1010), Europe (~930), Asia (~830), Middle East (~180) (China, United States, India, United Kingdom, Germany, Switzerland, )
(Cities with most billionaires, told from statistics being Beijing, New York, Shanghai)
Maybe it’s to state that capitalism accumulates resources on top levels within long periodes of time? Is this (a) best (system) for global wealth and diversity/distribution of necessary investments and maintenance efforts (humanity could have developed)?
Wealth increase is a common topic, less frequent interest is about investment fields supported by top level fortunes and interests? ]
[ statistics: ~2020/2021,
~12% female ‘billionaires’
on
‘Total wealth of world’s billionaires has fallen to $12.7tn’ statement
for to sort
‘Number of billionaires worldwide falls by 329 amid Russian sanctions, according to Forbes’
‘Millionaires for Humanity, a coalition of rich people calling for a global wealth tax on the super-rich to tackle inequality, said the Forbes list was “a sl p in the face of society”.’ ]
Gee, I guess Milton Friedman really isn’t calling the shots anymore.
It just staggers my mind that the guy could have a very popular TV series on PBS in 1980, and by 2020 somebody like Biden could get elected crowing that he was going to ignore everything Friedman taught us.
Well, it’s not the only front on which the Gods of the Copybook Headings are waging war at the moment.