Jon Sindreu, Wall Street Journal, has a thoughtful piece on inflation, here…
”Since the 1990s, prices have risen at totally different rates depending on the sector, official data shows. Education and medical care have more than doubled in cost, whereas the prices of furnishings, apparel and communication devices have fallen, thanks to cost benefits in production and advances in technology.”…
”Without a single macroeconomic phenomenon driving all prices, trying to gauge whether an economy is running too hot or too cold based on a weighted average of these measures seems pointless.”
Do read the whole thing…
Leave a Reply