Re:U.S. annual inflation rate drops to 8.5%
by ghaff on Wednesday August 10, 2022 @01:47PM
(#32415860)
And that basket naturally shifts over time as certain goods which have reasonable substitutes rise sharply in price, as technology changes, as tastes change, etc. It would obviously be silly to compare against the same basket of goods as was used in 1970.
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Re:U.S. annual inflation rate drops to 8.5%
by s1artibartfast on Wednesday August 10, 2022 @08:50PM
(#32420303)
There is some truth to it if you want to think about purchasing power and quality of life.
A TV today is not the same as a TV in 1970.
The groceries a family buys today are not the same Goods or quality as someone would have bought in 1920