> Isn't inflation/deflation about purchasing power? No, that is the exact opposite of inflation/deflation. Inflation/deflation are about nominal prices of goo

> Isn't inflation/deflation about purchasing power? No, that is the exact opposite of inflation/deflation. Inflation/deflation are about nominal prices of goods and services. If you want to talk about the price of a good in terms of a real quantity, then that is not measured by inflation or deflation and you need to specify what your measuring stick is, whether ounces of gold, or gallons of gasoline, or a median hourly wage in a specific labor market. There is one special term, called "real" prices, where the measuring stick is a weighted consumption basket, but that too is not going to represent purchasing power, which suggests deflating by either household income, or wages, or wealth.