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Correlation is not causation. As a European myself here is another correlation that probably has a lot more to do with the fact that people in Europe are not bu
by cracrecry 3y ago
Correlation is not causation. As a European myself here is another correlation that probably has a lot more to do with the fact that people in Europe are not buying as much high quality food:
After the politicians printed so much money in order to pay for COVID costs, general inflation has accumulated to 18% or so, split in two years of 8-9%.
Basic food after Ukraine disruption of cereal and oils and increment in energy prices went up over 30%.
The fact that buying buying basic food is 30% more expensive I believe has a lot more to do with people looking for alternatives, specially poor people that could not pay the higher prices anymore.
- the_mitsuhiko 3y ago> Correlation is not causation. As a European myself here is another correlation that probably has a lot more to do with the fact that people in Europe are not buying as much high quality food […] After the politicians printed so much money in order to pay for COVID costs, general inflation has accumulated to 18% or so, split in two years of 8-9%. It's a nice theory and it would be very believable, if the trend to eat less meat would be a recent change. However per capita meat consumption has been dropping in Europe for 15 years straight. The biggest decrease was from 2015-2020 which was a 0% inflation period.
- mafro 3y agoCould you share the data for this please?
- the_mitsuhiko 3y agoHere is the data for Austria where I live. I'm not sure how to find representative numbers across the EU: https://www.academia-superior.at/seit-2000-ist-der-jaehrliche-fleischkonsum-in-oesterreich-pro-kopf-um-10-kg-gesunken/ https://www.academia-superior.at/seit-2000-ist-der-jaehrlich...
- slaw 3y ago2015-2020 was zero interest rate period not zero inflation. Housing went up 14% https://www.in2013dollars.com/Housing/price-inflation/2015-to-2020?amount=100 https://www.in2013dollars.com/Housing/price-inflation/2015-t...
- the_mitsuhiko 3y agoYou are linking to US data. However you are right that the inflation in Europe was not 0%, but it was well below the 2% target rate. The average inflation rate over that time period is around 1.2%.
- switch007 3y ago0% inflation isn’t true at all
- the_mitsuhiko 3y agoYes, depends on the country. But between 2015 and 2020 the average inflation was 1.2%.