YEAR ON YEAR INFLATION


Benjamin Disraeli once said that there were 3 kinds of lies; “Lies, Damn Lies, and Statistics” and year on year inflation numbers are one of those. So let’s say in November of 2022 inflation went up 10% and in November of 2023 it went up just 5% that sounds great right? But lets say that in November of 2021 you paid 1 dollar a pound for hamburg but you paid a buck ten in 2022 and you are going to pay $1.16 per pound in 2023.

The fact is you are still paying way more money (+16%) and if you are living on a fixed income you are paying way more for hamburg. All of which reminds me of a story about an old lady who walks into a butcher shop and tells the butcher that across the street they are selling hamburg for a buck a pound, while he is selling it for $1.16 a pound. The butcher tells the lady to buy it from the other guy but the lady responds that he is out of hamburg. So the butcher tells her that when he runs out of hamburg he too will start selling it for a buck a pound also!

And that is all I’m going to say about that!

Photo by Timur Weber on Pexels.com

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