Aggregates mean nothing to me, an acting man — an individual.
Regardless of what the politicized aggregates say, my market basket tells my story — a story of inflation.
In the past month: gas at my favored station is up 12%, with my desired in-store candy bar up 13%; milk at the convenient corner drugmart is up 16%; and my self-proclaimed fiscally conservative neighbors voted to raise my property taxes 20%.
That’s my market basket.
And I do not need to look at the official numbers to know that I must rearrange my future purchases to align with my evolving reality.
According to Mises, “A judicious housewife knows much more about price changes as far as they affect her own household than the statistical averages can tell.”
That’s the truth. And it is as true for us men as well.