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And despite the same technological improvements, gasoline is decisively more expensive. Technology is purely deflationary, so the situation with phone cost isn'
by Supermancho 6y ago
And despite the same technological improvements, gasoline is decisively more expensive. Technology is purely deflationary, so the situation with phone cost isn't very telling. What is more impactful is the cost of phone service vs median income across those decades, despite technology's deflationary forces.
- nradov 6y agoGasoline pump prices are highly impacted by taxes and regulations so those don't tell us much about core inflation or deflation. Look at the spot price of crude oil on international markets. The price today is still well below previous peaks.