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Explaining the inflation rate (lemmy.world)

submitted 2 months ago by The_Picard_Maneuver@lemmy.world to c/whitepeopletwitter@sh.itjust.works

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[–] InvaderDJ@lemmy.world 16 points 2 months ago (2 children)

People don't understand this about inflation and it will disappoint them very soon once inflation is fully back to rates we saw pre-pandemic.

Grocery prices aren't coming down. Housing prices aren't going down. Utility costs aren't going down. The best we can hope for is for them to not increase as fast as they have the last four years and for the usual fluctuations in things like gas or electricity costs to fluctuate down more than up.

[–] constnt@lemmy.world 7 points 2 months ago (1 children)

The best we can hope for is for them to not increase as fast as they have

That's what inflation going down means. Inflation is the rate in which prices increase. Saying "inflation going down" means that the rate prices increase is not as much. "Inflation going down" still means prices are increasing. People are confusing "inflation going down" with deflation, which means prices are decreasing.

[–] InvaderDJ@lemmy.world 4 points 2 months ago

Yeah, that's exactly what I mean. I don't think most people understand that, and it will lead to people losing faith in experts when they're told inflation is back to pre-pandemic levels but prices aren't.