Part 2/14:
Official statistics indicate subdued inflation, but the lived experiences of consumers and businesses tell a different story. Prices of everyday goods, from groceries to housing, are plummeting far faster than the Consumer Price Index (CPI) suggests, with more than half of tracked items showing significant declines over the past two years. Items like potatoes, beef shanks, rents, and even electric vehicles like BYD cars are all witnessing steep price drops, signaling a vicious deflationary spiral.