Productivity is measured in terms of a price index (the cost of a 'basket' of goods). There are some obvious challenges with defining this basket in practice, a

Productivity is measured in terms of a price index (the cost of a 'basket' of goods). There are some obvious challenges with defining this basket in practice, and it is plausible to argue that inflation is persistently overestimated and so actual productivity growth is higher than the reported figure. However, this could apply equally to previous time-periods. Just as modern generations benefit from superior electronics products and mobile network speeds, previous generations benefited from massive increases in the variety and freshness of food, or the household appliances that reduced the time cost of household chores. It could be that productivity growing at a rate that is both faster than measured but slower than trend? https://www.bls.gov/cpi/ https://www.bls.gov/cpi/