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I've found that most people in the economics space know how broken the CPI is, so it's boring. That's why no one talks about it. The reality is the CPI doesn't
by adjkant 6y ago
I've found that most people in the economics space know how broken the CPI is, so it's boring. That's why no one talks about it. The reality is the CPI doesn't affect as much as people think, so there's little pressure to force its needed changes. And if you do ask people to change it, the factions that split in terms of what changes are desired leaves the "keep it the same" camp being the largest.
At a personal level, the CPI really isn't set up for cities. It is simply not considered in the CPI that housing would be such a big cost that would outweigh anything else. The "why" seems to be speculated by another poster, though I can't speak to that as I'm not deep enough into economics.