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>1. Including absolutely incredible housing price inflation in major cities like Seattle which typical measures of inflation don't properly capture). I'm sorry
by jldugger 6y ago
>1. Including absolutely incredible housing price inflation in major cities like Seattle which typical measures of inflation don't properly capture).
I'm sorry, but what? Rent or Rent equivalent is absolutely a part of US regional inflation measures.
edit: The BLS publishes a Consumer Price Index published by for Seattle metro area^1. The breakdown^2 quite literally includes housing as part of the basket of goods, listing about a 3 percent increase for that section yoy, and I believe the weighting is typically 1/3 of the total index. Seems like it's capturing it just fine?
^1 https://www.bls.gov/regions/west/news-release/consumerpriceindex_seattle.htm https://www.bls.gov/regions/west/news-release/consumerpricei...
^2 https://www.bls.gov/regions/west/news-release/consumerpriceindex_seattle.htm#table1 https://www.bls.gov/regions/west/news-release/consumerpricei...
- lazyasciiart 6y agoI've never seen a regional measure used.
- jldugger 6y agoThe union contract I was party to with a state university used one; seems like a no brainer when your staff is regionally concentrated. EDIT: And rent is part of the national CPI as well. It just doesn't reflect narrow regional trends because why would it? Those are outliers, and not particularly relevant national news media, and even those news stories that do cover it would use the more specific Case-Shiller indecies to tell the story.