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One of the ~econ -native smart people addressed this a while back but I cannot for the life of me remember what the concept is called when the people seem to experience inflation much heavier than what the official numbers state. Nor can I find it. Probably @Undisciplined or @denlillaapan knows and/or was the source of this wisdom.
I actually don't know what that's called. I'd love to find out.
Okay okay I stop being lazy.
This June 2026 paper calls it "the perceived inflation wedge". It's not what I remember reading and search gives nothing, but it at least tries to measure the thing I point to.
Maybe the bots are rubbing off on me and I hallucinated that I saw this discussed here.
me neither... some version of/exaggerated money illusion...? I'm really not sure.
When I want to refer to that idea, I usually say "actual real price increase" and most Bitcoiners/hard-money types know what I mean, roughly.
When I lived in Peru, I noticed the same thing but with various items, including food. On the street, I saw an increase of, for example, 40%, and the graphs said the increase was 15%.
That store I showed is from Venezuela, and I did some research and that little bedroom table is made of MDF and covered in melamine; they're not even selling anything made of a special type of wood. Unbelievable.