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By the numbers: Not seeing the inflation drop reflected in your wallet? You’re not alone (tvo.org)

submitted 2 years ago by Grappling7155@lemmy.ca to c/ontario@lemmy.ca

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The overall rate of inflation may have fallen dramatically, but the big picture is more complicated

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[–] CaptainFlintlockFinn@lemmy.ca 1 points 2 years ago (1 children)

I’d like to see this year compared to two years ago. I’m no statistician so I don’t know how to do that math (do you just add the ~7% from last year and the ~3% from this year together?).

[–] mindcruzer@lemmy.ca 1 points 2 years ago* (last edited 2 years ago) (1 children)

Almost. An increase of 7% is: 1 + 0.07 = 1.07. A further 3% increase is 1.03 times that, which results in 1.07 x 1.03 = 1.102 or a 10.2% increase.

[–] CaptainFlintlockFinn@lemmy.ca 1 points 2 years ago

Thank you. So when they say inflation was ‘only’ ~3% they’re making it sound better than it really is. 🤮