“Inflation” to economists is how much the price is going up this month.
“Inflation” to most people is how much stuff costs.
It feels like there needs to be some acknowledgement of that when this is all talked about, after the superinflation of 2022. The goal should be that prices go back down, not that they go back to going up by 3% per year now that they’re way up high.
The levers which incentives wages closing the gap on the “super inflation” are probably more realistic than the levers that would cause the prices of everything to deflate.
“Inflation” to economists is how much the price is going up this month.
“Inflation” to most people is how much stuff costs.
It feels like there needs to be some acknowledgement of that when this is all talked about, after the superinflation of 2022. The goal should be that prices go back down, not that they go back to going up by 3% per year now that they’re way up high.
inflation to most people is an increase in the cost of stuff* FTFY
also to be clear, the goal is that wages rise to meet the increased inflation, that’s the historical trend.
You really don’t want deflation. The correct thing now is for wages to go up to match the new costs and this has been happening.
The levers which incentives wages closing the gap on the “super inflation” are probably more realistic than the levers that would cause the prices of everything to deflate.