▲ | lowkey 3 hours ago | |
Economists look at inflation on a month/month or year/year basis. This is not an accident as it purposely ignores the destructive cumulative effect of inflation. Individuals, by contrast look at the cumulative effect of inflation. If inflation runs hot for several years and then comes back to a moderate level, prices don’t go down regardless of what economists would have you believe. The effect of inflation has memory. |