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Is inflation uniform across the hierarchy of available goods and services?
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September 18th, 2022
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Say you buy a gallon of milk in 1977, and it’s $0.99. Then in 2022 you buy a gallon of the same milk and the price is $3.99. Is this inflation ratio going to be true regardless of what is purchased, or does price get balanced for some items (like milk) despite inflationary pressures.
What would this(these) other pressures be called? Demand?
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