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US: "Inflation" doesn't mean what it used to
The meaning of the word "inflation" has changed. It used to mean rising prices; now it means high prices. Why it matters: Pedants, economists, and style-guide editors might not like it, but if you want to understand what people mean when they complain about inflation, you need to understand how the vernacular has evolved over the past couple of years. The big picture: Inflation, at least as officially measured by the Bureau of Labor Statistics, has come down sharply from its peak of 9% in mid-2022. It now stands at 3.4%, broadly in line with where it was for the quarter-century between 1983 and 2008. The other ... (full story)
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- Comment #1
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- May 26, 2024 10:26pm May 26, 2024 10:26pm
- Jade Gate
- Joined Oct 2008 | Status: Member | 162 Comments
Let's go DODGERS !!
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- May 27, 2024 5:11am May 27, 2024 5:11am
- axecap
- Joined Aug 2017 | Status: Member | 123 Comments
its all just one persons opinion....