Our total compensation is higher this contract at $9.15 compared to last contract at $8.90. A 2% increase when your making $37 dollars an hour is a lot of buying power.
According to the Bureau of Labor Statistics consumer price index, prices in 2018 are 8.18% higher than prices in 2013. The dollar experienced an average inflation rate of 2.95% per year during this period.
In other words, $1 in 2013 is equivalent in purchasing power to $1.08 in 2018, a difference of $0.08 over 5 years.
The 2013 inflation rate was 1.46%. The current inflation rate (2017 to 2018) is now 2.95%
1. If this number holds, $1 today will be equivalent to $1.03 next year.
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Some of the things you post are just flat stupidity.