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The World Bank periodically adjusts the threshold upwards for this reason. In 1990, they used $1/day. In 2008, they adjusted it to $1.25/day. Now they are adjus
by ekiru 11y ago
The World Bank periodically adjusts the threshold upwards for this reason. In 1990, they used $1/day. In 2008, they adjusted it to $1.25/day. Now they are adjusting it to $1.90/day.
- fiatjaf 11y agoAnd you imagine that in 25 year the total inflation was only of 90%?
- matthewmacleod 11y agoI tend to think that the World Bank adjusts this amount in an appropriate manner. If you think their methodology is wrong, you should explain why.
- fiatjaf 11y agoWhy shouldn't be you explaning why do you believe in their methodology? That's crazy. You don't even know what methodology they use and you are taking your time to defend them here.
- rconti 11y agoBecause the World Bank is a large organization with many paid staff tasked with devising and implementing their methodology. You're two random people on the Internet. I'm siding with the World Bank, not with the internet commenter who demands another internet commenter defend experts. You're the one making the extraordinary claim here.
- satai 11y agoThis should not be "inflation" but "price change for very basic needs"
- oblio 11y agoAccording to this, it was less (82%): http://www.usinflationcalculator.com/ http://www.usinflationcalculator.com/ (select 1990-2015)
- ekiru 11y agoI don't know, but your previous comment implied that they weren't adjusting for inflation at all. It's possible that they are failing to adjust for inflation sufficiently, but that claim needs support. How much inflation was there between 1990 and 2015? Why does it differ from their calculation?
- ptaipale 11y agoIf you pick an inflation calculator (for US), you will find that $1.00 of 1990 is actually $1.82 of 2015. So the inflation is less than 90%. http://www.usinflationcalculator.com/ http://www.usinflationcalculator.com/ http://www.westegg.com/inflation/infl.cgi http://www.westegg.com/inflation/infl.cgi Of course, if you live in Venezuela, things are different, but World Bank uses US$. edit: only now noticed that this was mentioned already in an earlier comment by oblio.