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The BLS does have regional CPI numbers. Here's their page for SF: https://www.bls.gov/regions/west/news-release/consumerpriceindex_sanfrancisco.htm https://www

by sagarm 5y ago

The BLS does have regional CPI numbers. Here's their page for SF: https://www.bls.gov/regions/west/news-release/consumerpriceindex_sanfrancisco.htm https://www.bls.gov/regions/west/news-release/consumerpricei... Note that the CPI in the SF bay area has been >2% for over a decade and has been 3-4% since 2016.[1] This is noticeably higher than the national rate of <2%.[2] Until 2020, that is, when CPI dropped in the SF bay area but skyrocketed nationwide. [1] https://data.bls.gov/timeseries/CUURS49BSA0&output_view=pct_12mths https://data.bls.gov/timeseries/CUURS49BSA0&output_view=pct_... [2] https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm https://www.bls.gov/charts/consumer-price-index/consumer-pri...

omgitsabird 5y ago
Yeah, I am concerned with the methodology more than the reporting. > 11. How are CPI prices collected and reviewed? BLS data collectors visit (in person or on the web) or call thousands of retail stores, service establishments, rental units, and doctors' offices, all over the United States to obtain information on the prices of the thousands of items used to track and measure price changes in the CPI. We record the prices of about 80,000 items each month, representing a scientifically selected sample of the prices paid by consumers for goods and services purchased.[1] > The CPI survey collects about 94,000 prices per month to compute indexes for commodities and services. Approximately two-thirds of price collection in the CPI is done by personal visits of CPI data collectors to brick-and-mortar stores. The remaining data are collected by telephone or on the outlet’s website. In some cases, these data are supplemented by data provided from other sources. The outlets where prices are collected are selected based on data from the CE survey. These outlets may be brick-and-mortar stores or websites (e-commerce); currently, about 8 percent of CPI quotes are collected from outlet websites.[2] This seems easily biased and inefficient when considering theoretical alternatives. 1. https://www.bls.gov/cpi/questions-and-answers.htm#Question_11 https://www.bls.gov/cpi/questions-and-answers.htm#Question_1... 2. https://www.bls.gov/opub/hom/cpi/data.htm https://www.bls.gov/opub/hom/cpi/data.htm
- nuerow 5y ago
  > This seems easily biased and inefficient when considering theoretical alternatives. What possibly leads you to believe that aggregating the price of 80k items from different markets is something that can be easily biased?
  - deleted 5y ago
    [deleted]
  - omgitsabird 5y ago
    https://economics.mit.edu/files/5408 https://economics.mit.edu/files/5408
    - disgruntledphd2 5y ago
      It would probably be more helpful if you could summarise your thoughts on the linked article here.

by sagarm 5y ago

omgitsabird 5y ago

Yeah, I am concerned with the methodology more than the reporting. > 11. How are CPI prices collected and reviewed? BLS data collectors visit (in person or on the web) or call thousands of retail stores, service establishments, rental units, and doctors' offices, all over the United States to obtain information on the prices of the thousands of items used to track and measure price changes in the CPI. We record the prices of about 80,000 items each month, representing a scientifically selected sample of the prices paid by consumers for goods and services purchased.[1] > The CPI survey collects about 94,000 prices per month to compute indexes for commodities and services. Approximately two-thirds of price collection in the CPI is done by personal visits of CPI data collectors to brick-and-mortar stores. The remaining data are collected by telephone or on the outlet’s website. In some cases, these data are supplemented by data provided from other sources. The outlets where prices are collected are selected based on data from the CE survey. These outlets may be brick-and-mortar stores or websites (e-commerce); currently, about 8 percent of CPI quotes are collected from outlet websites.[2] This seems easily biased and inefficient when considering theoretical alternatives. 1. https://www.bls.gov/cpi/questions-and-answers.htm#Question_11 https://www.bls.gov/cpi/questions-and-answers.htm#Question_1... 2. https://www.bls.gov/opub/hom/cpi/data.htm https://www.bls.gov/opub/hom/cpi/data.htm

nuerow 5y ago
> This seems easily biased and inefficient when considering theoretical alternatives. What possibly leads you to believe that aggregating the price of 80k items from different markets is something that can be easily biased?
- deleted 5y ago
  [deleted]
- omgitsabird 5y ago
  https://economics.mit.edu/files/5408 https://economics.mit.edu/files/5408
  - disgruntledphd2 5y ago
    It would probably be more helpful if you could summarise your thoughts on the linked article here.