[arete]

Inflation from 1988 through the end of 2002 was 52%. WHere does he get that number?

I don't know he got the number but over 14 years that is only 4% without compounding it. Reasonable.

Richard W.

[sourcery]

don't know he got the number but over 14 years that is only 4% without compounding it. Reasonable.

1.52 to the root of 14 is 1.03036 -- in other words, an annual inflation rate of 3.036% over 14 years would accumulate to a 52% increase (ending price level = 1.52 times the base price level).