A report came out yesterday detailing our latest inflation rate. Not good news. We have the highest inflation rate in 17 years. This is due to higher fuel costs and higher food costs. Reportedly gardeners who ride bicycles weren’t affected.
Give me an R. Give me an E. Give me a C. Give me a…. okay I’m trying to get you to spell recession.
Workers’ wages haven’t kept up with the higher inflation rate. This means that we are making less, and stuff is costing more. It’s like when my favorite bagel place shrunk their bagels and increased their price. Let’s just say that I considered switching to crumpets.
The rate of increase was 4.1%. In 1990 the rate was 6.1%. Did you get a 4.1% raise for 2008? If not, print off this blog post and give it to your boss. I don’t do well with confrontation though, so if your boss calls me then I will probably agree that you got the raise you deserved.
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.