The root of what’s going on here can feel obvious: blame inflation, which picked up in mid-2021 and throughout 2022. But that isn’t really the issue anymore, at least not at the current rate, because inflation is coming down. The actual problem here is prices.
They’re not going up nearly as much as they were in, say, the middle of last year, but they’re by and large not declining en masse, either. And in most cases, they won’t get back to where they were in the Before Times.
Economics always does jazz hands for the middle part, the part between the macroeconomic money supply and microeconomic prices.
Well… “Why inflation?” is a very different question than, “What is inflation?”
Inflation is a measurement of change in prices, and determined by actually sending shoppers out into the field to check prices on a hypothetical “basket” of consumer goods. So the statement that, “The problem isn’t inflation. It’s prices.” is nonsense.
The text goes on to clarify that prices really aren’t going up like they did during the pandemic, making it clear that the title was clickbait all along.
Your own definition shows it’s not nonsense. If prices are high, but stable, then the problem is no longer inflation.