Inflation takes a basket of products and measures prices over time. One of the biggest problems of the latest wave of inflation is that it’s affecting essentials more than most other products. If food, rent and electricity go up very fast but other consumer items like TVs or fast fashion remain stable or even go down, living costs are affected for poorer people much more significantly than inflation numbers portray.
Right, because ultimately what inflation is measuring is how expensive it is to be comfortable, rather than how expensive it is to survive. Capitalist economists are uninterested in the survival of the poor, they are only interested in the comfort of the comfortable, so they measure toys along with food as if they’re equally important.
Inflation takes a basket of products and measures prices over time. One of the biggest problems of the latest wave of inflation is that it’s affecting essentials more than most other products. If food, rent and electricity go up very fast but other consumer items like TVs or fast fashion remain stable or even go down, living costs are affected for poorer people much more significantly than inflation numbers portray.
Right, because ultimately what inflation is measuring is how expensive it is to be comfortable, rather than how expensive it is to survive. Capitalist economists are uninterested in the survival of the poor, they are only interested in the comfort of the comfortable, so they measure toys along with food as if they’re equally important.