dshort

Why Today Is Different From the Inflationary 1970s

Yes, today is a bit different from the '70, but far less so than you claim. Here's a chart that shows the "official" CPI with the CPI if we were still using the same methodology in use during the stagflation era:

dshort.com/inflation/i...

We don't yet have wage inflation, which creates an inflationary spiral. But the level of consumer suffering is indeed approaching the '70s.