2 ms·
It might be time deaf but it's also true. Inflation is measured by looking at what people actually buy - it will measure iPads to the extent people are spending
by ikeboy 7y ago
It might be time deaf but it's also true. Inflation is measured by looking at what people actually buy - it will measure iPads to the extent people are spending money on iPads.
Now, if working class people spend less than average on iPads, then the inflation they experience will be different. But the government isn't going to produce dozens of different inflation metrics for different groups. Maybe they should - it's theoretically possible to calculate inflation based on consumption groups. Margins of error would be higher. But to suggest that they should just exclude quality improvements on technology completely is wrong.