Study reveals how price changes impact business cycles and wages
The article discusses how prices are set in the economy. Prices usually change once a year, with discounts and product turnover playing a big role. Different products change prices at different rates, with more popular items changing prices more often. Price changes are not coordinated among sellers, and the size of a price change doesn't depend on how long the price has been the same. Most price changes are small, but there are some big changes too. Price changes are connected to changes in wages.