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>> However, inflation is a personal thing. For example, the cost of milk has gone up about 40-50% this past year. But if you're lactose intolerant, you're not buying milk anyway. Cost of college up 25% but you don't have kids/nieces/nephews to take care of, no problem. <<

This is true...but I don't know *anyone* who is experiencing the low rate of inflation the government is reporting.

#29


There is a distinction between inflation and increases in the cost of living.

For example, the average price of a house has increased pretty steadily over the last couple of decades, but so has the size.

I paid pretty much the same amount for the computer that I bought a few months ago as for the one that I bought back in 1999, but the difference between the two computers is pretty huge.

I don't envy the job of economists when it comes to measuring inflation. I don't think there is a way to do it without getting some kind of criticism.
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