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There is no significant inflation measure that does not include food. I agree they're not the entirety of the basket, but they are a core component. There is
by Wolfenstein98k 6y ago
There is no significant inflation measure that does not include food.
I agree they're not the entirety of the basket, but they are a core component.
There is no "general price level".
- eru 6y agoThere is a "general price level", it's just the price level of a sufficiently broad basket.
- em500 6y agoFood and Beverages make up 15% of the US CPI basket. Some other major components are Housing (42%) and Transport (15%). Here's the full list, which make up the "general price level": https://www.bls.gov/cpi/tables/relative-importance/2020.htm https://www.bls.gov/cpi/tables/relative-importance/2020.htm If you believe food is underweighted, then what category do you believe is overweighted?