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Vance mocked for saying eggs cost $4 — while standing in front of a dozen for $2.99
(www.independent.co.uk)
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this post was submitted on 23 Sep 2024
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First, you missed the part where the actual price now is not 4 dollars? He lied. It was 3 dollars, per the sign right behind him.
Second, national inflation is calculated off a broad spectrum of goods and services providing insight into the relative buying power of tthe dollar itself, so it is not missing the point to compare based on the adjusted buying power of the dollar. It is a more accurate reflection of the true rise in cost of this individual good comparing how its rise in price has outpaced the average rise in costs across the board. It reflects the extra pressures put on the egg market from the avian flu outbreaks and possible other factors rather than the general inflation of the entire economy.
Third, if Vance's goal was to demonstrate that inflation in general had gone up tremendously and blame Harris specifically for that (despite how ridiculous that is), using eggs as a specific measure of the effect of their policies when the price hike on eggs have significantly outpaced other goods and is clearly due to non-policy related circumstances outside anyone's control is obviously disingenuous. And that was before he lied and tried to add another 30+ percent on top of the already inflated price.
Intentionally did not talk about Vance, I was merely responding to the idea that using past prices adjusted for inflation compared to current prices isn't that straightforward.
Thanks for the lecture, appreciate the tone.
Vance's comments was the context in which my comment was made. Context matters