By Sammy Cartagena, includes “Under normal circumstances, when most people think about inflation, they likely think of a gradual rise in prices averaging out to 2 percent per year. Most people think nothing of this inflation and simply consider it a part of life, or a necessary part of a growing economy. I am here to argue that not only is this 2 percent inflation number a lie, but also that a more harmful aspect of inflation is often ignored: the price deflation that never comes to be. … The question then arises: If CPI does not do an adequate job of measuring inflation, how should we measure it?”
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