c/ontario · by Grappling7155@lemmy.ca · 3yBy the numbers: Not seeing the inflation drop reflected in your wallet? You’re not alone https://tvo.org/article/by-the-numbers-not-seeing-the-inflation-drop-reflected-in-your-wallet-youre-not-aloneThe overall rate of inflation may have fallen dramatically, but the big picture is more complicated 10 points · 6 comments · view on lemmy.world
6 Comments
ebits21@lemmy.world · 5 pts · 3y
Drop in inflation doesn’t mean lower prices… just means slower increases.
CaptainFlintlockFinn@lemmy.ca · 2 pts · 3y
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@lemmy.ca · 1 pts · 3y
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@lemmy.ca · 1 pts · 3y
Thank you. So when they say inflation was ‘only’ ~3% they’re making it sound better than it really is. 🤮
Djangofett@lemmy.ca · 1 pts · 3y
Can't help but think int rates will go up to 7% by end of this year.