Food hasn't been a good indicator of inflation for decades. Better manufacturing and logistics has made food super cheap. Housing and healthcare are much larger expenditures and are largely underrepresented by USA's CPI.
Food being largely "super cheap" is exactly why it's a good indicator of inflation, as it applies to actual peoples' lives. Milk, cheese, oats, eggs, butter, bread, are things that people need for themselves and for their children. When these things go up in price, that's real inflation. Not metropolitan wankers pushing paper and courting similar paper-pushing wankers from abroad.
On the contrary, agriculture is a tiny portion of our nation's economy. For quite a while, food was practically an afterthought. Buying 2 cars and feeding a family of 5 on the salary that could be had with a high school diploma was the norm at one point. You don't have all of these things because you're worried about the cost of food. People don't get grotesquely obese if calories are expensive.
Food prices are becoming relevant again because of rampant and massive theft by the upper class. It has little to do with the actual effort required to produce food.
Housing hasn't been a good indicator of inflation for ages, it's in a bubble and chinese investment chasing a safe foreign deposit and entire country's economies (aus) dependent on it, and ludicrous regulation, has driven the housing price up well beyond inflation, but with the bubble now peaking and rates going up we're about to see it pop like in 2008.
They admit to 10.8%
We all know these numbers the world over are wild underestimates
Food hasn't been a good indicator of inflation for decades. Better manufacturing and logistics has made food super cheap. Housing and healthcare are much larger expenditures and are largely underrepresented by USA's CPI.
Food being largely "super cheap" is exactly why it's a good indicator of inflation, as it applies to actual peoples' lives. Milk, cheese, oats, eggs, butter, bread, are things that people need for themselves and for their children. When these things go up in price, that's real inflation. Not metropolitan wankers pushing paper and courting similar paper-pushing wankers from abroad.
On the contrary, agriculture is a tiny portion of our nation's economy. For quite a while, food was practically an afterthought. Buying 2 cars and feeding a family of 5 on the salary that could be had with a high school diploma was the norm at one point. You don't have all of these things because you're worried about the cost of food. People don't get grotesquely obese if calories are expensive.
Food prices are becoming relevant again because of rampant and massive theft by the upper class. It has little to do with the actual effort required to produce food.
Housing hasn't been a good indicator of inflation for ages, it's in a bubble and chinese investment chasing a safe foreign deposit and entire country's economies (aus) dependent on it, and ludicrous regulation, has driven the housing price up well beyond inflation, but with the bubble now peaking and rates going up we're about to see it pop like in 2008.