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You should be suspicious of any metric that attempts to whittle inflation down to a single number. The purpose of single number measures of inflation is so that
by Consultant32452 4y ago
You should be suspicious of any metric that attempts to whittle inflation down to a single number. The purpose of single number measures of inflation is so that the people who get judged by those metrics can manipulate them.
- ghaff 4y agoYes, any single number that measures unemployment or inflation can be misleading which is why there are in fact multiple measures. However, the public generally is used to a specific unemployment measure and a specific inflation measure which is what's generally reported in the news.
- zo1 4y agoThey're used to half ass analysis from news outlets that report on that single number instead of doing their job and adding detail/nuance to the discussion.