There’s loads of speak about inflation coming down. And, after all, it has been. However life nonetheless feels costly—even when inflation is much less relative to final 12 months.
Properly, simply because inflation is much less doesn’t imply costs are coming down. Any economist will inform you that. However knowledge dorks like us will present you.
This month, we created a Variable in Domo (Variables are cool…) to vary whether or not we had been trying on the client worth index (CPI) vs final 12 months, two years in the past, three years in the past, or 4 years in the past. As a result of Valentine’s Day is upon us, we thought it is perhaps enjoyable to see how rather more costly a standard date evening will probably be this 12 months in comparison with the previous 4 years. Even when it offers me just a little heartburn…not the romantic type.
Our V-Day takeaways utilizing Domo variables
We’ve pulled our CPI knowledge from December 2023 and used these numbers to estimate how a lot the usual Valentine’s Day purchases—flowers, chocolate, dinner out—will price us this 12 months. Right here’s what we discovered, and you may mess around with our adjustment device under. The device’s knowledge will refresh because the Bureau of Labor Statistics (BLS) updates the CPI.
Total, the CPI was up 19.4% in December 2023 in comparison with 4 years in the past.
Once you go in search of these roses, know that the CPI class “indoor crops and flowers” is up 18.6%, rather less than the CPI general.
The sweet and chewing gum class is up 28.3%, probably the most of any we tracked. It is perhaps value noting right here that these are normal CPI class names from the Bureau of Labor Statistics. Bureau of Labor Statistics (BLS). Hopefully none of our loyal Domo on Information viewers buys their valentine chewing gum for the vacation—though Further could beg to vary.
Lastly, meals away from house is up 25.5%—so possibly staying in and splurging on a bottle of purple is probably the most inexpensive Valentine’s date proper now.
However, I’m all about letting folks be curious with knowledge. So, here’s a knowledge explorer the place you may select the identical comparability variables and take a look at extra particulars… Have enjoyable and, Completely satisfied Valentine’s Day!
Wish to maintain exploring Variables?
To create our Valentine’s visuals, we used Variables in Domo—a easy however highly effective characteristic we launched in 2023. Variables offer you an intuitive approach to discover your knowledge with out having to construct particular person knowledge visualizations to account for each view of the information.
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