Europe is getting shredded by inflation

submitted by casparvoneverecBig tiddy respecter from self.debatealtright

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[–]Nombre27 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Seen another one yesterday for US and I think the situation is much worse than those percentages indicate and stating inflation in terms of proportion would be better.

Please correct me if I'm wrong on this, but simply going by raw percentages of the line items without adjusting them for the proportional expense that those items represent to the average/median cost of living (or spending) leaves a lot missing from that analysis. For example, if food and rent for the average person is 50% of their expenses and those items went up 10%, then I think changes those expenses to now represent 55% of that persons expenses.

If this is correct, I think people would better understand the gravity of inflation when they realize how much it chews into their income, i.e. inflation needs to be communicated not as a percentage but as the proportional change it represents.

[–]casparvoneverecBig tiddy respecter[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Good point. All inflation isn't equal. Medical, housing, education, gas, and food take up the lion's share of everyone's monthly income. Inflation in things like clothes or cars doesn't matter as much. I suspect there's been a huge hike in the price of food and gas. Housing's been going up for ages but I don't know if there's been a dramatic hike off late.

Medicine is probably as before.

[–]TheJamesRocket 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

I really hope that Putin strangles Europe with his gas pricing. The EU has been acting as a U.S. satrap for too long, and their joining in the sanctions was the last straw. Russia has an opportunity to really put the screws to them now. They could bring Europes economy to a halt in months, long before they are able to build those LNG terminals for U.S. tankers (which are very expensive anyways).