Monday, June 21, 2021
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Monday, June 21, 2021

Inflation Is Already Here—For the Stuff You Actually Want to Buy

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If it feels like the price of everything you buy has been soaring, that’s because it has—even as central bankers everywhere worry about the danger of deflation.

The gap between everyday experience and the yearly inflation rate of 1.3% in August is massive. The price of the stuff we’re buying is rising much faster, while the stuff we’re no longer buying has been falling, but still counts for the figures.

Economists…

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