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Your first 2 paragraphs are contradictory…the fed’s normal inflation measurement is a very limited set of goods. No one really knows what inflation is at if we
by mym1990 5y ago
Your first 2 paragraphs are contradictory…the fed’s normal inflation measurement is a very limited set of goods. No one really knows what inflation is at if we “look at everything”.
Oil price is also not a good gauge of inflation because it’s heavily controlled and doesn’t always reflect what you see at the pumps. When oil went to negative in 2020 you didn’t see free gas, maybe slightly cheaper, but no where near the change in crude/WTI prices.
- Retric 5y agoThat isn’t a contradiction, that’s the normal difference between any measurement and reality. Your speedometer isn’t accurate to 200 decimal places let alone actually correct. So yep nobody knows real inflation out to even 3 decimal places, but that’s not a big deal in practice.