Tuesday, April 13, 2004
Wrigley's Inflation Indicator
I've been wanting to write for some time about economic indicators in general and, in particular, apparent collusion to hide a nascent inflation that's creeping into our economic world for the first time in two decades.
The 'I' word has been uttered quietly by a few isolated economists and writers, but so far little has been made of this very important issue.
But real life always intercedes in theory, and so it was when I went to buy a pack of Wrigley's Big Red gum and was miffed to be charged thirty cents. "Ripoff artist", I scowled under my breath toward the kiosk owner. Any American knows that a pack of Wrigley's gum costs a quarter.
So imagine my shock and chagrin when I looked at the package and realized that it if fact Wrigley's had upped their prices by a whopping 25 percent to a record high 30 cents a pack!
So go ahead and act like there's no inflation. The Gum World begs to differ.
I've been wanting to write for some time about economic indicators in general and, in particular, apparent collusion to hide a nascent inflation that's creeping into our economic world for the first time in two decades.
The 'I' word has been uttered quietly by a few isolated economists and writers, but so far little has been made of this very important issue.
But real life always intercedes in theory, and so it was when I went to buy a pack of Wrigley's Big Red gum and was miffed to be charged thirty cents. "Ripoff artist", I scowled under my breath toward the kiosk owner. Any American knows that a pack of Wrigley's gum costs a quarter.
So imagine my shock and chagrin when I looked at the package and realized that it if fact Wrigley's had upped their prices by a whopping 25 percent to a record high 30 cents a pack!
So go ahead and act like there's no inflation. The Gum World begs to differ.
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