What is worse the inflation we have now or the inflation of 1978-1979?

[The Duke]

Nowhere near the old monthly mortgage note.

That's because they're not a mortgage note.

 

[DGS49]

The old inflation (late 70's, early 80's) was not bad for the well-employed. You got cost of living increases plus merit increases, and if you fixed your housing costs with an owned home, you were better off year after year. Those with fixed incomes (some pensions) were harmed. (Later, you remortgaged your home at a much lower rate).

Today's inflation is not bad, but most people are aggregating all inflation since 2019, seeing a 25% increase in costs (more or less), and saying it's terrible.

The Fed is happy with 2-3% inflation per year and we are not much above that now.