I think people stop believing in statistics when they don't feel it is related to their daily life.
Looking at the prices of bread, eggs, meat, car price and rent/mortgage interest from another country, it's a lot of burden. Meat shoots up really a lot in Costco, and mortgage payment went up 50% as well.
Talking about the cars, the exactly same car was 30K when I bought it 4.5 years ago, and now it is 45K+ (Same model different year). It's hard to explain the differences by "the advancement of technology". And not to say that back then I got a 0% interest rate and nowadays it's at least 5% or 6%.
IMO, for ordinary people, this hike of interests does nothing to prevent real inflation that they care about, but simply increasing everything.
Looking at the prices of bread, eggs, meat, car price and rent/mortgage interest from another country, it's a lot of burden. Meat shoots up really a lot in Costco, and mortgage payment went up 50% as well.
Talking about the cars, the exactly same car was 30K when I bought it 4.5 years ago, and now it is 45K+ (Same model different year). It's hard to explain the differences by "the advancement of technology". And not to say that back then I got a 0% interest rate and nowadays it's at least 5% or 6%.
IMO, for ordinary people, this hike of interests does nothing to prevent real inflation that they care about, but simply increasing everything.