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Does the first chart account for inflation seeing as it's defined in terms of US dollars?
by rosalinekarr 10y ago
Does the first chart account for inflation seeing as it's defined in terms of US dollars?
- maxerickson 10y agoYes. The source is a bit clearer on the point, mentioning that the chart is in terms of 2011PPP. So it accounts for differences in cost of living too, attempting to measure consumption in vaguely absolute terms. (a bit down the page: https://ourworldindata.org/world-poverty/ https://ourworldindata.org/world-poverty/ ) As a meta point, financial statistics that don't account for inflation are so utterly meaningless and bankrupt the thing to do if you have this concern is to go check and report back if they are crap. The default assumption should be that they do account for inflation.