Keep spinning Neal.....I mean lugflick.
Single good price changes are not inflation.....period.
We don't go around saying this good has inflation and this good doesn't. You are confusing relative price change to inflation...they are not the same.
"An increase in the price of a single good is not inflation because inflation is a broad and sustained increase in the general price level across an entire economy. A single price change is a relative price change, which reflects shifts in supply and demand for that specific item, not a decrease in the purchasing power of a currency as a whole."
https://www.clevelandfed.org/publications/economic-commentary/2008/ec-20080601-rising-relative-prices-or-inflation-why-knowing-the-difference-matters
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Highmark ·
