The rate of change declined steadily from 1976 through March 1980, but since then has generally been rising. During the last 2 years, purchasing power has actually increased. ... The critical determinant of purchasing power changes has been the rate of increase in consumer prices .

Has purchasing power gone up?

Money supply (M2) in the U.S. has skyrocketed over the last two decades, up from $4.6 trillion in 2000 to $19.5 trillion in 2021. The effects of the rise in money supply were amplified by the financial crisis of 2008 and more recently by the COVID-19 pandemic.

Are wages increasing in 2021?

1. What is the minimum wage? Effective January 1, 2021, the minimum wage increases to $14 per hour for employers with 26 or more employees and $13 per hour for employees with 25 or fewer employees.