The overall rate of inflation may have fallen dramatically, but the big picture is more complicated

  • CaptainFlintlockFinn
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    1 year ago

    I’d like to see this year compared to two years ago. I’m no statistician so I don’t know how to do that math (do you just add the ~7% from last year and the ~3% from this year together?).

    • mindcruzer
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      1 year ago

      Almost. An increase of 7% is: 1 + 0.07 = 1.07. A further 3% increase is 1.03 times that, which results in 1.07 x 1.03 = 1.102 or a 10.2% increase.

      • CaptainFlintlockFinn
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        1 year ago

        Thank you. So when they say inflation was ‘only’ ~3% they’re making it sound better than it really is. 🤮

  • Djangofett
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    1 year ago

    Can’t help but think int rates will go up to 7% by end of this year.