• Knock_Knock_Lemmy_In@lemmy.world
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    7 months ago

    Again, you are giving examples of price changes in specific goods, not inflation.

    Supply shock - is specific to the asset experiencing the shock. This is not inflation.

    Wage growth - the specific asset here is human capital.

    Inflation is when all prices increase, or equivalently, when the buying power of the fiat currency reduces. I.e. when more money exists than there was before.