Quote:
Originally Posted by Azure
Inflation does seem much higher than the 10% being stated.
Not sure what the real number is but it seems higher.
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One person's impression is more or less meaningless because inflation is an average. So a person who spends a lot on fuel, who has recently changed residences, and who spends a lot on food might experience significant inflation. On the other hand, a person who doesn't drive a whole lot and who owns a house on a fixed-rate mortgage might experience almost no inflation right now (and some have even seen their housing costs go down as they've renewed at lower rates than they were paying previously).
And of course, the logic has to follow that if the current inflation rate is massively under-reported due to poor methodology or nefariousness, then the same would hold true for prior years as well. But when you take that back far enough, you end up seeing that that simply cannot be true. If inflation in the last 20 years was as high as most inflation-truthers want to argue, then the average price of goods would have gone up by about 6-7x in the last 20 years, which is obviously not true.