one thing that wonder about is what if we're not seeing inflation show up in many goods categories because of retail menu costs, but that is starting to change, and in a month or three inflation stats maybe look very differenthttps://twitter.com/sgodofsk/status/1450657636161134592 …
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This works for businesses with strong pricing power—who routinely raise prices in excess of inflation regardless of inflation expectations.
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Doesn’t work for most businesses because of competition. Meanwhile, if all the competition is doing it in lockstep then it is just literally inflation.
End of conversation
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