After adjusting for inflation, wages are higher than at any point in U.S. history, and after adjusting for age and sex, the percentage of the population that is employed is around its peak in U.S. history.
After adjusting for inflation, wages are higher than at any point in U.S. history, and after adjusting for age and sex, the percentage of the population that is employed is around its peak in U.S. history.
CPI does weight items by based on spending patterns (although the details of how to determine this weight are complicated and the main reason there are multiple inflation indecises).
The 2022 CPI has a 0.178% contribution from the price of milk, and a 45.065% contribution from the price of Housing. Housing itself is subdived into several subcategories. Notably, neither the purchase price of a house nor the typical mortgage are included. Instead, homeowners cost of shelter is covered by “owner’s equivelent rent” which attempts to answer what the owner would be paying if they had to rent the house they are living in.
https://www.bls.gov/cpi/tables/relative-importance/2023.htm