4 ms·
All that's changed is the year-over-year velocity has decreased This is literally inflation – the rate of change of prices.
by matthewmacleod 3y ago
All that's changed is the year-over-year velocity has decreased
This is literally inflation – the rate of change of prices.
- losteric 3y agoI know. There's a gap between common language and technical definitions. Most people use "inflation" to baseline current prices against recent memory (ie cumulative change over multiple years). I opt against the quixotic battle for language, people typically skim such pedantry. Also... one could argue the YoY definition is "wrong" if consumers are thinking and planning based on a longer time period. Why report YoY instead of a rolling 2 years? 5? Or perhaps different windows for specific items within the basket?