The Federal Reserve cut its key interest rate by a quarter-point in response to a steady decline in once-high inflation that angered Americans and helped drive Trump’s election victory.
That isn’t an indicator of current inflation. Past inflation, maybe.
People confuse “everything is expensive” with “inflation is currently high”. It’s an understandable misunderstanding, and part of the reason why Kamala lost.
It’s because of hysteretic effects from 4 years ago when they stopped production of cars and fewer cars were sold because people were staying home. Then there was a supply chain crisis because of the aforementioned shutdown.
It’s inflation because the dollar can buy less than it used to. Things being more expensive is inflation. You’re confusing inflation rate with inflation.
That’s literally the definition of inflation. “Inflation is a loss of purchasing power that reflects a rise in prices for goods and services over time.”
That’s sales, not prices. Sales are down because prices are up. For $27k I can buy a Toyota Corolla hybrid and almost a Toyota Prius. Used car prices are slightly down because people are trading in crap with 200k miles.
I literally just bought these three items earlier today. I spent 8.
High end of $20 is either exaggerating, or you’re buying some fancier foods than me.
Go buy a good used car right now.
That isn’t an indicator of current inflation. Past inflation, maybe.
People confuse “everything is expensive” with “inflation is currently high”. It’s an understandable misunderstanding, and part of the reason why Kamala lost.
It’s because of hysteretic effects from 4 years ago when they stopped production of cars and fewer cars were sold because people were staying home. Then there was a supply chain crisis because of the aforementioned shutdown. It’s inflation because the dollar can buy less than it used to. Things being more expensive is inflation. You’re confusing inflation rate with inflation.
Inflation rate and inflation are the same. You’re confusing inflation with affordability.
That’s literally the definition of inflation. “Inflation is a loss of purchasing power that reflects a rise in prices for goods and services over time.”
Did you see the used car prices a few years ago? They’re trending downward.
That’s sales, not prices. Sales are down because prices are up. For $27k I can buy a Toyota Corolla hybrid and almost a Toyota Prius. Used car prices are slightly down because people are trading in crap with 200k miles.
It is not.
https://www.cargurus.com/research/price-trends
Go buy eggs, bread and milk. Better part of a twenty.
I literally just bought these three items earlier today. I spent 8. High end of $20 is either exaggerating, or you’re buying some fancier foods than me.