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The problem isn't water, it's drowning. The problem isn't obesity, it's calories. The problem isn't expenses, it's income. Inflation is literally defined as

• JumpCrisscross 3y ago
  > Inflation is literally defined as prices rises in response to increase in currency Just the first part. An economy with constant money supply can experience inflation if its production is knocked offline, e.g. in a war.
• HDThoreaun 3y ago
  Inflation has multiple definitions. The layman one has nothing to do with currency supply level.
• bryanlarsen 3y ago
  > Inflation is literally defined as prices rises in response to increase in currency.... No it's not. When Friedman said that "inflation is always a monetary phenomenon" he was saying that inflation is caused by a mismatch of money supply and economic capacity. You fix inflation by tweaking the money supply, but the cause may have been either the supply or capacity side. And since when did an economic theory become part of the definition? Inflation is an old word that far predates Friedman or the central currency system.
• dehrmann 3y ago
  It's not that, though. The problem isn't prices, it's the perception of prices. People aren't looking at prices as a percent of their income, they're looking at them compared to 2019 benchmarks. It's also very uneven. Thinks people want to do because of pent-up pandemic demand are the very things are expensive. The used gym equipment market is pretty good right now.