Then perhaps TV prices will go up, but jet prices will go down. That sort of mixed change in prices is not consistent with the usual definitions of "inflation."

Then perhaps TV prices will go up, but jet prices will go down. That sort of mixed change in prices is not consistent with the usual definitions of "inflation." Do you still like your argument when you think about quartiles rather than comparing the top 20 data points against the bottom 2 million? I think it's hard for most people to trust their intuitions about the spending habits of billionaires.