4 ms·
It seems a bit arrogant to claim that every one of the thousands of economists who study inflation are idiots. You can look up the methodologies used to determ
by 542458 6y ago
It seems a bit arrogant to claim that every one of the thousands of economists who study inflation are idiots.
You can look up the methodologies used to determine the basket of goods. By non-volatile I mean that they’re aggregates over purchasing categories - for example, it’s not the simply the price of a “40inch TV” or cod fillet (which may change in ways non-representative of general purchasing practices - as TVs of a given size get cheaper, or cod has a good year) but an aggregate over the entire purchasing category (fresh fish, consumer electronics) based on typical purchasing habits.
https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2019001-eng.htm https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2019001...
When things are added or removed it’s because people have stopped buying that thing (DVD rentals for example).