Grocery prices is actually a great example of official inflation numbers being underestimated. My grocery bill has increased by a minimum of 50% (and more like 100%) since the pandemic, but official numbers put it at about 25%. They have a basket of goods that they base their numbers off of, but that basket changes and my suspicion is that they change it in a way to make the numbers look better than they really are. In my case, I’ve been buying the same stuff all along (i.e. mainly simple non-processed ingredients) with modifications only to try to reduce my bill (e.g. I haven’t bought any eggs over $2 a dozen, which means I haven’t bought eggs in a long time).
I sarcastically pointed out “at least TVs are cheaper” because yes, there are categories where some things are cheaper, but the far more important categories of housing, education, food, and health care have experienced ridiculous amounts of inflation.
Grocery prices is actually a great example of official inflation numbers being underestimated. My grocery bill has increased by a minimum of 50% (and more like 100%) since the pandemic, but official numbers put it at about 25%. They have a basket of goods that they base their numbers off of, but that basket changes and my suspicion is that they change it in a way to make the numbers look better than they really are. In my case, I’ve been buying the same stuff all along (i.e. mainly simple non-processed ingredients) with modifications only to try to reduce my bill (e.g. I haven’t bought any eggs over $2 a dozen, which means I haven’t bought eggs in a long time).
I sarcastically pointed out “at least TVs are cheaper” because yes, there are categories where some things are cheaper, but the far more important categories of housing, education, food, and health care have experienced ridiculous amounts of inflation.