3 ms·
Respectfully disagree. Inflation is cumulative in its effects. Up 17.1% in a single year outweighs 2% annual inflation over many years in its impact on the cons
by lowkey 3y ago
Respectfully disagree. Inflation is cumulative in its effects. Up 17.1% in a single year outweighs 2% annual inflation over many years in its impact on the consumer. It is much more revealing than an average figure which can bury the total impact.
- HPsquared 3y agoInflation over the last, say, 5 years, has definitively not averaged 2% pa. Especially in basic supplies like food and fuel. Consumer goods often have "sticky" prices, for various reasons. Example: https://en.m.wikipedia.org/wiki/Fixed_price_of_Coca-Cola_from_1886_to_1959 https://en.m.wikipedia.org/wiki/Fixed_price_of_Coca-Cola_fro...