Thats what im saying. Inflation is not what happens when people price gouge, but it provides a convenient way to hide a little gouging here and there when prices have to be adjusted for inflation anyway
I mean inflation is literally a product of people who own businesses deciding to raise prices while depressing wages. So, it does largely come down to price gouging in a very real sense.
That's... Not what inflation is.
You have been watching half-arsed videos on YouTube by people who never really learned a single thing about economy, haven't you?
Inflation is the devaluation of money which happens because the pool of money constantly grows (super oversimplified here), which it has to because otherwise, we'd face a deflation because the money pool would constantly shrink due to savings and such. Deflations can wreak havoc with economies and cause great misery all around. The "great depression" was a deflation. Look up how that turned out. That's what the constant inflation rates of around 3% are meant to prevent.
There is no cabal of businessmen deciding to raise prices and seoress wages and then selling that as "inflation".
I mean there are other factors, but at the end of the day prices and wages are set by capitalists. So, it is ultimately a conscious choice of business owners to raise prices. Wolff does a pretty good job summing it up in my opinion https://www.youtube.com/watch?v=Cl1MXJZ6yOY
He starts by saying that's the first thing to consider and then instead of going on to other points just starts using his spooky scary voice to say it over again. I find that presentation style hard to trust
I dunno I think there's probably been one or two "honest" inflations where a vendor has seen her costs increase and has only raised her prices just enough to cover those increases.
But yeah, I bet the majority of inflation has been rooted in avarice by shareholders and owners.