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They didn't specify whether they meant nominal or real wages, and their main point was that fuel and groceries were becoming less affordable.
by janef0421 4y ago
They didn't specify whether they meant nominal or real wages, and their main point was that fuel and groceries were becoming less affordable.
- SantalBlush 4y agoIt doesn't make any sense to talk about groceries becoming less affordable with real wages staying flat, because grocery price levels are factored into the definition of a real wage.
- janef0421 4y agoYes it does. The ongoing inflation is sectoral.
- SantalBlush 4y agoYou haven't contradicted my statement. Maybe if you elaborate, you will. But "inflation is sectoral" has no bearing on the fact that rising grocery prices are a part of real wage computation.