You must be suffering from “money illusion” if you think slowing inflation means a declining cost of living – Kwakye

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You must be suffering from “money illusion” if you think slowing inflation means a declining cost of living – Kwakye

The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye has reiterated his point that the slowing of inflation does not mean prices of goods and services are dropping. Persons who believe that the cost of living is coming down because of the slowing of inflation must be suffering from money illusion, he said. He explained that the reduction in inflation only means that the cost of living is still increasing but at a s…