Back in 2009, it was often asked why, if prices had been rising for almost two years, inflation was not an election issue. My explanation was that it wasn’t just the prices, incomes were also rising. So people didn’t notice the price increases. A decade later it is the opposite.
Prices are not rising but nor are incomes. So much then for inflation as an election issue, as it was in 2014, when consumer prices inflation had been in double digits for a few years. If not prices, will stagnant incomes be an issue? In urban areas, probably not. But it could in rural areas ...
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