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By the numbers: Not seeing the inflation drop reflected in your wallet? You’re not alone (tvo.org)

submitted 1 year ago by [email protected] to c/[email protected]

6 comments fedilink hide all child comments

The overall rate of inflation may have fallen dramatically, but the big picture is more complicated

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[–] ebits21 5 points 1 year ago

Drop in inflation doesn’t mean lower prices… just means slower increases.

[–] [email protected] 2 points 1 year ago (1 children)

I’d like to see this year compared to two years ago. I’m no statistician so I don’t know how to do that math (do you just add the ~7% from last year and the ~3% from this year together?).

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago) (1 children)

Almost. An increase of 7% is: 1 + 0.07 = 1.07. A further 3% increase is 1.03 times that, which results in 1.07 x 1.03 = 1.102 or a 10.2% increase.

[–] [email protected] 1 points 1 year ago

Thank you. So when they say inflation was ‘only’ ~3% they’re making it sound better than it really is. 🤮

[–] [email protected] 1 points 1 year ago

Can't help but think int rates will go up to 7% by end of this year.

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