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In reply to the discussion: This Is Why Young People Really Voted for Trump [View all]Jack Valentino
(2,328 posts)The inflation rate in 1980 was up to 13.5 percent,
1979 was 11.3 percent, and 1981 was 10.3 percent---
that's over 34 percent over those three years!!
https://www.google.com/search?q=inflation+rate+in+1980&rlz=1C1CHBD_enUS1151US1151&oq=inflation+rate+in+1980&aqs=chrome..69i57j0i22i30l9.4244j0j15&sourceid=chrome&ie=UTF-8
Despite the spike we experienced, mostly in 2022, this was nothing compared to that time, especially over a three-year period!
Also, they misinterpret "high prices" as "inflation"--
lower inflation does not mean that prices are going to go down,
it only means the rate of increase will be less...
Prices will not go down much across the board without a "deflation"--
which will usually only come with a recession or a depression or severe economic crisis,
such as we experienced in 2008, and at the beginning of the covid pandemic...
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