You always have a mix. There will be growth in some markets, and inflation in others.
Humans tend to eat always roughly the same amount of food (except if they can't afford it). So food prices generally inflate with wage increases. Growth leads to bigger televisions, safer cars, faster internet being available at roughly the same price.
Re:Dow plunges 1000 points
by eli_gottlieb on Tuesday February 06, 2018 @12:33PM
(#16317792)
>Humans tend to eat always roughly the same amount of food (except if they can't afford it). So food prices generally inflate with wage increases.
Quite the opposite. Over the long term, food prices have deflated, and the variety has dramatically increased of foods available at a given price and a given distance from the point of production.
Generally everyone's income would be rising 5% either from inflation, which amounts to a transfer from creditors to debtors, or from growth, in which case the total basket of goods and services available has grown 5% and there's no need for prices to go up.