And the problem is that even if it goes back to 2%, it’s still fresh in everyone’s memory that CPI was 17.5% lower (1$ March 2020 = 1.21$ March 2024) and it’s not very fair to the average person that the number they hear only compares to the previous year when it’s not what they’re feeling in their wallet as there’s never been deflation.
What I’m saying is, we know when the high inflation period started, media should report both the year-on-year change and inflation compared to a specific month before the last major economy influencing event, that would help people understand the information presented to them and why it feels like prices are still up much more than 3%.
The media reports it that way because the guys who run the economy report it that way. We need an inflation tracker website that tracks the divergence of wages from inflation like the conservatives have for the national debt.
And the problem is that even if it goes back to 2%, it’s still fresh in everyone’s memory that CPI was 17.5% lower (1$ March 2020 = 1.21$ March 2024) and it’s not very fair to the average person that the number they hear only compares to the previous year when it’s not what they’re feeling in their wallet as there’s never been deflation.
What I’m saying is, we know when the high inflation period started, media should report both the year-on-year change and inflation compared to a specific month before the last major economy influencing event, that would help people understand the information presented to them and why it feels like prices are still up much more than 3%.
The media reports it that way because the guys who run the economy report it that way. We need an inflation tracker website that tracks the divergence of wages from inflation like the conservatives have for the national debt.