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Cars and trucks get a "cost based adjustment": https://www.bls.gov/cpi/quality-adjustment/ https://www.bls.gov/cpi/quality-adjustment/ According to this, hedon

by sxyuan 5y ago

Cars and trucks get a "cost based adjustment": https://www.bls.gov/cpi/quality-adjustment/ https://www.bls.gov/cpi/quality-adjustment/ According to this, hedonic adjustments and cost based adjustments are two ways that the US BLS performs quality adjustments for the CPI: [pdf] https://www.bls.gov/cpi/additional-resources/quality-adjustment-price-programs-presentation.pdf https://www.bls.gov/cpi/additional-resources/quality-adjustm... For a higher level view of how these adjustments may have impacted the CPI, along with changes within individual categories, this article presents a fairly balanced view: https://www.lynalden.com/inflation/#cpi https://www.lynalden.com/inflation/#cpi

dwohnitmok 5y ago
Oooo that's a fantastic article. > Plus, wages have barely kept up with inflation, which is compounded by the fact that more education (and thus more student debt) is required on average to get those same inflation-adjusted wages. In other words, on an inflation-adjusted and education-cost-adjusted basis, median wages have decreased. is a pretty compelling take.