JuAnHu on Nostr: I agree that food prices are a good indicator. On the other hand, there have been ...

I agree that food prices are a good indicator. On the other hand, there have been tremendous technical advancements decreasing the food production costs during the past years and decades. Thus, looking only at food prices underestimates the real inflation, which is much higher.

Unfortunately, the contributors to these efficiency increases are often not really acknowledged because their contribution is eaten up by inflation. In the public perception the food prices just keep on increasing and the producers are being blamed.
One of the distortions from fiat money...