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A comment on Skimpflation: A reason inflation is worse than the government says it is. Parent comment

Re:Skimpflation: A reason inflation is worse than the govern... by jtc331 on Monday November 01, 2021 @07:43AM (#29065450)
By that definition inflation basically never happens until people get higher wages so they have more to spend.

That’s clearly absurd, and so defining inflation in a way that means it never happens when people substitute goods is also clearly absurd.

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Re:Skimpflation: A reason inflation is worse than the govern... by angelzen on Monday November 01, 2021 @10:52AM (#29067322)
That is exactly how the ruling class sees the situation. Gallon of milk $10? Chump change, maybe once it hits $100 it will make for a bit of faux concern table chatter at our $10k/seat fundraising dinner next week. The plebes agitating for $15/hour? Catastrophe.
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