How does 8% inflation correlate with the 30-50% increase in the price of products also accounting for shrinkflation?

Question

Edit: thanks to everyone especially those of you that have really detailed answers. I’ve learned a lot .

In: 448

Answer 1

That standard basket of goods doesn’t necessarily fit your own consumption. There are inflation calculators where you can adjust the basket. This is one for the EU f.ex. [https://www.euro-area-statistics.org/digital-publication/statistics-insights-inflation/bloc-4a.html](https://www.euro-area-statistics.org/digital-publication/statistics-insights-inflation/bloc-4a.html)