Quote:
Originally Posted by Topspinmo
So you comparing inflation to oil market. Funny crud oil goes up and down but daily living prices don’t follow same pattern.
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Read everything in the original post to which I am replying and what I wrote.
There was a complaint that inflation is out of control and as evidence we were told how much more he was paying for his fill up. I very clearly replied to that complaint which is demonstrably wrong. I presented charts for both the price of gasoline in Florida over several years and the price of oil over several years. No inflation. Nada, none, zilch.
Inflation and daily living prices as you chose to label it do not follow the crude [not crud] oil price. Correct. When crude dropped off the cliff during the Covid shutdown, we did not see deflation. All I pointed out was that using oil costs to prove inflation is out of control is completely bogus. Got it now?
If you want to know if inflation is out of control first you need to define what factors or commodities or services are in your inflation measure. The federal government does this and you can select among many different inflation measures.