By the numbers: Not seeing the inflation drop reflected in your wallet? You’re not alone
The overall rate of inflation may have fallen dramatically, but the big picture is more complicated
https://tvo.org/article/by-the-numbers-not-seeing-the-inflation-drop-reflected-in-your-wallet-youre-not-aloneOpen linkView original on lemmy.ca
Drop in inflation doesn’t mean lower prices… just means slower increases.
I’d like to see this year compared to two years ago. I’m no statistician so I don’t know how to do that math (do you just add the ~7% from last year and the ~3% from this year together?).
Almost. An increase of 7% is: 1 + 0.07 = 1.07. A further 3% increase is 1.03 times that, which results in 1.07 x 1.03 = 1.102 or a 10.2% increase.
Thank you. So when they say inflation was ‘only’ ~3% they’re making it sound better than it really is. 🤮
Can't help but think int rates will go up to 7% by end of this year.