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givesomefucks , 23 days ago Despite negative perceptions on the state of the economy, inflation is now much lower than its June 2022 peak of 9.1 percent. I can never get past economic articles that miss the fundamental issue with “but inflation rates are lower!” card. Like, the price never went down, it just started increasing faster for a while, and is now slowing down. But it’s still increasing. Like imagine if you went from 0-60 in 2 seconds in an Uber, so you say “slow down”. So the driver takes 2 more seconds to go from 60-100. The rate of acceleration slowed down, but the past acceleration doesn’t just magically disappear.
Despite negative perceptions on the state of the economy, inflation is now much lower than its June 2022 peak of 9.1 percent.
I can never get past economic articles that miss the fundamental issue with “but inflation rates are lower!” card.
Like, the price never went down, it just started increasing faster for a while, and is now slowing down. But it’s still increasing.
Like imagine if you went from 0-60 in 2 seconds in an Uber, so you say “slow down”. So the driver takes 2 more seconds to go from 60-100.
The rate of acceleration slowed down, but the past acceleration doesn’t just magically disappear.