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#1
July 3rd 05, 04:11 AM
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"Matt Barrow" wrote in message
... "Dave Stadt" wrote in message I suspect people said the same thing when av gas went past $.50 a gallon. The price of gasoline is still well behind the inflation curve. Quite! http://txfx.net/2005/06/22/oil-prices-peak-well-no/ http://www.fintrend.com/ftf/images/c...n_20050404.gif Huh? If the price of gas or oil were "well behind the inflation curve", then the inflation-adjusted price would show an overall *decrease*. In fact, though, the inflation-adjusted price (according to the graph you cite) is now *three times* what it started as. It's true that the inflation-adjusted increase has been non-monotonic, according to the graph (there was a brief earlier spike above the present level); nontheless, the price has--both recently and overall--raced far ahead of the inflation curve, not behind it as you state. --Gary 
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