RANT: No, that's a Scalar. Inflation is a vector. To accurately state inflation, you have to sample the prices of everything in a basket of goods, define the items in the basket, and never allow arbitrary substitution. I know of no such extant measure. Even then, the scalar produced is only accurate for that particular set of goods, and nothing else.
Thus actual inflation is unknowable, and all statements with a single number are propaganda. /RANT
RANT: No, that's a Scalar. Inflation is a vector. To accurately state inflation, you have to sample the prices of everything in a basket of goods, define the items in the basket, and never allow arbitrary substitution. I know of no such extant measure. Even then, the scalar produced is only accurate for that particular set of goods, and nothing else.
Thus actual inflation is unknowable, and all statements with a single number are propaganda. /RANT