By Rab Bruce’s Spider

Economist David Blanchflower posed the following question during an online discussion on social media:

"If inflation falls from 3% to 2%, have prices gone up, gone down, or remained the same?"

Incredibly, it seems that the majority of people answered that this meant prices had gone down, despite the word, "inflation" meaning that prices are going up. The fact that the rate of increase has slowed does not alter this fundamental point.

But if that is the level of understanding among the general public, it’s no wonder politicians get away with the nonsense they often spout.