Modern calculations of inflation use the geometric mean of price increases, while previously it was the arithmetic mean. The reason is exactly the geometric-ar

Modern calculations of inflation use the geometric mean of price increases, while previously it was the arithmetic mean. The reason is exactly the geometric-arithmetic mean inequality [1]. This is the largest theft ever made, and no-one knows or wants to know about it. [1] https://en.wikipedia.org/wiki/Inequality_of_arithmetic_and_geometric_means https://en.wikipedia.org/wiki/Inequality_of_arithmetic_and_g...