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'Inflation' is not the price increase of a single thing to demand/supply. Inflation is the systemic increase in all costs of what a household would buy as mone
by JimTheMan 5y ago
'Inflation' is not the price increase of a single thing to demand/supply.
Inflation is the systemic increase in all costs of what a household would buy as money itself become less valuable.
Prices 'inflating' on a single product because there's a shortage of... base materials or whatever is not inflation as an economic term.
- hirako2000 5y agoYou are quite right. Except that you are implying other product will decrease in price while that one increases. Vehicles is a rather large market and an element of supply chain costs, chips are used across so many industries. I would rather expect the majority of product to see an increase in price. We can talk technical terms but my comment was a reflection of the markets at large.