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True Dan there is plenty of inflation, but the chart shows a steeper rise in the 1970s than now...and the chart in a certain sense is cumulative without marking the rise in incomes during that period.

In other words incomes went up as well in nominal terms. The rise in the inflation to income ratio would be less in the 1970s because employees were keeping up with their wage inflation, but the actual inflation rate was steep.

The 1980s, 90s and otts saw disinflation and in the otts a fight for some inflation with background noise of deflation.

Yes prices in nominal terms rose. And wage inflation actually rose less or stagnated. The chart though is misleading because it is one dimensional.

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