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Monday, Dec. 18, 2023

Is inflation costing Wisconsinites $10,131 more per year compared with 2021?

Tom Kertscher, Wisconsin Watch
no

A Facebook ad claimed that because of inflation, “Wisconsinites spend $10,131 more per year now than they did in 2021.” An analysis the ad relies on doesn’t support that.

The ad started running Dec. 5, 2023. It’s from Americans for Prosperity, a conservative group that advocates for limited government.

The analysis is by Republican members of Congress’ Joint Economic Committee. It refers to households, not persons, in saying that people in Wisconsin needed an estimated $10,131 more per year to afford the same standard of living in October 2023 that they had in January 2021.

University of Wisconsin-Madison economist Menzie Chinn told Wisconsin Watch that based on the analysis, the figure is $6,414 per person.

The analysis says that nationally, inflation costs the typical household $11,434 per year.

An analysis by Democratic members of the same committee found that average wages and salaries are up $14,970 during the same period.

See a full discussion of this at Wisconsin Watch

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