2019 - 2016 = 3 years.
30,000 * 1.08^3 = 37,791.36.
because of inflation, if something cost 30,000 today, it will cost 37,791.36 three years from now.
in order to pay for that same things three years from now, you need to be making 37,791.36 dollars.
your salary needs to grow by 8% a year just to keep up with inflation.
if you make less, you lose buying power.
if you make more, you gain buying power.
