Quote:
Originally Posted by wig
No it's not because:
1) it is only taking into account specific items while ignoring others.
2) hyperinflation is currency dependent. That means that base prices are accelerating out of control for the currency in question. If the base prices you're citing are also going up in other currencies, you are simply observing higher prices.
You are also using a definition of hyperinflation that is not used in mainstream economics.
It's fine if you guys want to make up your own definitions, but recognize that for what it is.
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My degree is in mechanical engineering. Even though I haven't done much engineering work in the last 10 years my daily tasks are solidly in the business and management side of manufacturing. I will concede the word hyper.
That being said,since 1999 when we added the plastics division the last 6 months have been the largest cost increases we have seen. In 1999 a pound of raw poly cost 54 cents.
Though the 2000's it rose annually at a bit over COLA.