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Without criticising anyone personally, I think a problem with all economic actions by governments and central banks is that those making the decisions often aren't seeing it first hand.Anyone can look at data but seeing it first hand often gives a different perspective.The kind of inflation I'm seeing is one that's going to hit the poor harder than anyone else. For example a local supermarket hasn't changed the full price of bakery items but they've slashed the end of day discount clearing out unsold items. Etc. I'm seeing a lot of that sort of thing where the full retail price of a brand name product hasn't changed but the cheapest available, either a cheaper brand or a discounted price on special, has increased significantly. That's going to hit those who intentionally buy whatever's on special to save money but won't really show up in CPI statistics.
Without criticising anyone personally, I think a problem with all economic actions by governments and central banks is that those making the decisions often aren't seeing it first hand.
Anyone can look at data but seeing it first hand often gives a different perspective.
The kind of inflation I'm seeing is one that's going to hit the poor harder than anyone else. For example a local supermarket hasn't changed the full price of bakery items but they've slashed the end of day discount clearing out unsold items. Etc. I'm seeing a lot of that sort of thing where the full retail price of a brand name product hasn't changed but the cheapest available, either a cheaper brand or a discounted price on special, has increased significantly. That's going to hit those who intentionally buy whatever's on special to save money but won't really show up in CPI statistics.
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