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I was having an arguement with this person saying that people have a misconception about inflation because they think that inflation will rob him of his purchasing power of his hard earned money. So that when the prices rises, your dollar will buy fewer goods so it might seem that it lowers living standards...
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According to the Consumer Price Index, inflation is at about 3%/year . Gold is up 24% this year. Oil is up over 50% in 12 months. Assuming that the supply of gold is not violatile, shouldn't these be roughly similar? What is the actual inflation rate?