Answering the great inflation question of our time

August 28, 2020. Piracicaba, SP, Brazil. Preparations to fly a hot air balloon at sunrise.

August 28, 2020. Piracicaba, SP, Brazil. Preparations to fly a hot air balloon at sunrise.

Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.

Unfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has…


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