Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Yes, the useful definition of product price inflation is the loss in buying power of new product of future contracts fixed in terms of money values.

Chasing after "the proper" definition of inflation sui generis is another one of those idealist will-o-wisp chases after the impossible. The question of what is "the proper" definition of inflation sui generis is a category mistake.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Nov 19th, 2010 at 10:58:48 PM EST
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