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In all civilized countries the inflation data is collected and processed transparently by a bureau which is independent from the government. Your cartoonish id
by carlob 5y ago
In all civilized countries the inflation data is collected and processed transparently by a bureau which is independent from the government.
Your cartoonish idea of a minister of economics making a phone call to tell some bureaucrat to fudge the numbers is very far from reality.
In some developing countries stuff like this happens and there are unofficial numbers being published by journalists or dissidents which are closer to reality, but this is really not be how things work in the EU or US.
- ChuckNorris89 5y agoPlease don't put words in my mouth, I didn't say the inflation calculation is not transparent, i said the formulas and the variables used in the formulas are cherry picked to make the inflation seem lower than it is in the real world. Like how it conveniently excludes real estate prices (as if having a roof over your head to raise a family in, is some opulent frivolity instead of a necessity) but instead includes stuff like the price of the cheapest possible bread which often stays low for longer at the cost of reduced quality. My point is, you can always choose your metrics well enough to reach a certain target if that's the desired outcome, which is what the whole inflation index has become. Same how my boss can pick my yearly performance targets that can make me either "exceed expectations" or he can choose targets that will make me "need improvement", for the same amount of work I do.