Originally Posted by
phughes
Quote:
The average selling price of a new bicycle in the U.S. in September was $346, up 28% compared with 2020 and 54% higher than the average selling price of a bicycle in 2019
No, that statement by itself does not quantify inflation. It simply compares the average selling price of bikes over two years. The average selling price of bikes each year does not compare the price of specific bikes. It simply shows an average of what people paid for bikes for those years. It is very possible people opted to buy higher end bikes, thereby driving up the average cost. You cannot make a judgement on inflation based on that comparison. That is not to say inflation hasn't occurred, but this comparison cannot quantify it.
And you can't make a judgment on inflation from the price of ANY single item, since the typical household routinely buys hundreds (perhaps thousands) of different goods and services.