Economics, Econometrics and Finance
6 years ago

Food and Gas Prices Soaring: Why Low Inflation Doesn't Reflect Reality.

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How Can Inflation be Considered Low When Food and Gas Prices Are So High
Brent Meyer, Mehmet Paşaoğulları

Paper Summary

Inflation is not the same as high food and gas prices. Inflation is a general increase in prices across a range of goods and services, like the Consumer Price Index (CPI). The CPI includes food and gas prices, which have been rising lately. This shows that even though food and gas prices are high, overall inflation can still be considered low.

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