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They are tracking the price of an arbitrary basket of goods which is going to be different to your personal basket, as is required. The increase in the cost of
by iso1631 4y ago
They are tracking the price of an arbitrary basket of goods which is going to be different to your personal basket, as is required. The increase in the cost of living for someone who drives 20,000 miles a year will be different to that of someone who gets a train to work to that of someone who works from home to that of a pensioner with a small amount of money to a pensioner with a large amount of money
- swores 4y agoYou're describing the method they used to try to (roughly) "track the cost of living". You can argue that it is or isn't doing a good enough job in terms of the choices made but that's specifically what it's doing (and while it may not be doing it well enough, it obviously does need to be done based on sampling not based on producing an exact % for each individual that the things they bought over the past year have increased). (You're not the person who wrote "neither RPI or CPI try to track increases in the cost of living", but that's the context of this comment chain.)