Quote:
Originally Posted by tgrundke
I get your point, but here's the thing with inflation: it's a very personal/emotional thing that changes behaviors.
If you need a new washer and goods inflation is up - inflation is hot. If your plane ticket to Orlando with the kids is 20% more expensive than last year - inflation is hot.
Services accounts for more than 70% of the economy and as a result its felt by a broader swath of the population: insurance, travel, hotels, movies, theme parks, dentists, veterinarians, etc.
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This is exactly the explanation I was looking for, 👍
Agreed.
Imo, service inflation is high, but I feel that goods inflation is just taking a short back seat. At some point the two inflation types will both be up and that will be a drag on the overall market