[swagatkonchada]

inflation is 7%ish, not 5%ish. but generally translates to much higher cost of living increases for the middle class

[treis]

I don't really buy inflation at 7%. If you drill into the numbers it's mostly (1) energy prices returning to pre-covid levels and (2) huge increases in new & used cars due to chip shortages. The rest of the numbers are a more pedestrian 2-4%

[giaour]

And a large drop in the real value of outstanding debts, which is great for the mortgage-holding, non-credit-extending middle class

[iso1631]

And massive payrises to boot

[galangalalgol]

For those able to change jobs or find jobs in the <1yr window yes, for the rest, pay adjustment largely didn't meet inflation, so they got a pay cut. And those that were saving to buy a house or car saw the price of those things shoot away from their efforts while those savings lost value. I also worry that those who took jobs for massive raises will be on shakey ground afterwards. And those that hired in before or after resenting them for it.