Higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture.

  • DrDeadCrash@programming.dev
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    1 year ago

    If prices generally went down across the board, it would be indicative of …

    This is always what gets said. The real truth is that prices can go up and down for a lot of reasons and this line gets used as an excuse for our attempt-infinite-growth economic mindset.

    … shows a small real wage growth, meaning wages growing faster than inflation

    This is due to the (temporary) shift of power to the workers during the pandemic. I personally believe this “inflation” we’re experiencing now is a direct reprisal for that very small and very late wage increase. Profits are soaring all over, but belts are being tightened for (seemingly unknowable reasons) coming down from C level.

    • ampersandrew@kbin.social
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      1 year ago

      I recommend you do some digging into economics as to why we avoid deflationary environments and why that is always said. Remember also that profits are measured against a currency whose value has been eroded by inflation as well. Inflation is a fact of life. No need to put it in quotes.