Wrong. See post #43.
Everyone who is under-employed thinks that the prices they pay for their everyday survival are always going up.
That’s psychological, even though it’s human nature to claim “no, that’s my paycheck.”
But the price of milk going up is inconsequential compared to salaries falling, stock prices falling, and home prices falling.
I am not underemployed. My salary has remained constant for two years while the number of my expenses has declined even as the level of expense has steadily risen. Groceries is not an inconsequential category except maybe for those in the upper 20% or so.
You must be one of those who use the words inflation and deflation in all sorts of arbitrary ways as Keynesians do, to mean whatever they have in mind at the moment. Inflation is the increase in the money supply. Prices rise unevenly with wages and salaries rising last of all. Some prices even fall as others rise more, wages typically falling in the early parts of an inflation as business try to compensate for their increased costs and decreased market by cutting wages.