https://twitter.com/paulkrugman/status/1712494317024026761
This is like saying "my health is great ex my heart".
[edit] Also, child poverty increased more in 2022 than any time in recorded US history. So "little cost" for Krugman, but not for the population.
Not a lot. What Krugman excluded from the graph is ~70% of the total. 30% is stuff like consumer electronics, home supplies, etc.
But also, even 2% inflation can be bad if your wage growth is 0%. It might be worse than when inflation was 9%, but your wage growth was 8%. Another thing is that for some weird reason, people will prioritize things like shelter and food, so inflation in those areas always hurts more than the price of iPads. Just looking at the "inflation" number alone is really stupid. And that is because economics is a precise and conclusive science, folks!!!