Interest rates have gone up considerably. They are not included in the CPI but they do affect purchasing power. Consider buying a car - the purchase price is counted in inflation data and it doesn't include interest rates. Most people pay the monthly payment which has increased a lot because of interest rates. That explains a lot of the discrepancy between inflation numbers and inflation vibes as interest rates affect the largest categories of spending disproportionately.
Interest rates have gone up considerably. They are not included in the CPI but they do affect purchasing power. Consider buying a car - the purchase price is counted in inflation data and it doesn't include interest rates. Most people pay the monthly payment which has increased a lot because of interest rates. That explains a lot of the discrepancy between inflation numbers and inflation vibes as interest rates affect the largest categories of spending disproportionately.
That was an excellent read, well done.
> All we have to do is fix...
What is the common denominator for all these things?