FFS . . . Economist should just use the shrug emoji as their default answer to every question.
https://www.nytimes.com/2023/01/23/b...ing-point.htmlSome economists expect inflation to remain stubbornly faster than before the pandemic, while others anticipate a steep deceleration. Some anticipate something in between.
In the last burst of inflation here, on the flagship business programme of a news channel:
"The government figures say that inflation has reduced from 6.5% to 6% but people have not seen these falling prices. Are the government figures wrong?"
Also, "inflation" numbers are generally the CPI (or core CPI) which will differ from what people actually experience because their basket of expenses will differ from the basket used to calculate CPI.
inflation is cooling because prices are not longer going up but it doesn't mean prices are coming down. commodity and other price remains high.