Now that is a useless analogy. Buildings aren’t abstract constructions that fluctuate up and down based on complex relationships of military power projection, debt and demand.
The fact that inflation is the sum of all these price increases isn’t a profound discovery, and neither is that some things get pricier outpacing inflation, literally everyone understands that. That’s why it’s an average. That doesn’t mean it’s dumb or redundant to point it out, and pointing out that this is a thing that always happens reads like a hunting for an ummm akchually. This is just an exercise in microscopic hair splitting.
I really disagree. There’s no objective thing called inflation. There is no single quantity called the “value of the dollar”. The price of electricity going up is not caused by inflation. The price of electricity going up IS inflation. You can’t say that the price of electricity is going up “even when accounting for inflation” because the price of electricity going up IS inflation.
What you could say is that the price of the inputs to the price of electricity are going up at a slower rate than the price of electricity itself. That’s an interesting thing to say. But the state of affairs described by that could happen even if deflation was happening in the economy.
Here, let me try another way. The definition of inflation is:
the general increase in prices of goods and services in an economy over a period of time
Do you see why your statement:
even accounting for the diminishing buying power of the dollar, the price of electricity is rising and it can’t be accounted for just due to inflation itself
Doesn’t make any sense? I’ll rewrite your words:
Even accounting for [prices going up], the price of electricity is [going up] and it can’t be accounted for just due to [prices going up]
Now that is a useless analogy. Buildings aren’t abstract constructions that fluctuate up and down based on complex relationships of military power projection, debt and demand.
The fact that inflation is the sum of all these price increases isn’t a profound discovery, and neither is that some things get pricier outpacing inflation, literally everyone understands that. That’s why it’s an average. That doesn’t mean it’s dumb or redundant to point it out, and pointing out that this is a thing that always happens reads like a hunting for an ummm akchually. This is just an exercise in microscopic hair splitting.
I really disagree. There’s no objective thing called inflation. There is no single quantity called the “value of the dollar”. The price of electricity going up is not caused by inflation. The price of electricity going up IS inflation. You can’t say that the price of electricity is going up “even when accounting for inflation” because the price of electricity going up IS inflation.
What you could say is that the price of the inputs to the price of electricity are going up at a slower rate than the price of electricity itself. That’s an interesting thing to say. But the state of affairs described by that could happen even if deflation was happening in the economy.
Here, let me try another way. The definition of inflation is:
Do you see why your statement:
Doesn’t make any sense? I’ll rewrite your words: