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Just read about the inflation trimming. It is one of the ways the government make inflation to appear lower than it is, making people happy. In US, the 31% of t

Just read about the inflation trimming. It is one of the ways the government make inflation to appear lower than it is, making people happy. In US, the 31% of the goods with highest inflation are excluded, but only 24% of the goods with lowest inflation, making the inflation appear much lower than it is.

datlife 4y ago
Where do you get the lists of "goods with highest inflation" and "goods with lowest inflation?
- s1artibartfast 4y ago
  The link at the top of the page is a good start.
kshacker 4y ago
Then that should hurt them when inflation reduces, no?
- readthenotes1 4y ago
  How? If they're always excluding 7% more of the goods whose prices rose more, the trimmed CPI will always be lower than the CPI-U, which some people say is always lower than what people actually experience. The entitlement adjustments made based on trimmed CPI will always be less than the inflation even the gov't admits people are experiencing.
spoonjim 4y ago
Trimmed inflation is a better measure than non-trimmed for goods with substitutes. Bacon going up 1000% in price is not as bad as all food going up 5% in price because you can just stop eating bacon, but you can't just stop eating.
- Gareth321 4y ago
  Yes but now you don't get to eat bacon and you're eating tofu bacon instead. You're still alive, but are you really living? More seriously, that quality of life decrease is now completely ignored. I think it's worth acknowledging that it's happening.
  - thrashh 4y ago
    Yeah but so much of happiness is relative and pure mindset. If you never knew about bacon or forgot about it, you would be just as happy. And at the end of the day, it’s more important to be happy
    - inawarminister 4y ago
      You will own nothing. And you will be happy. - a popular quote in the internet
- collegeburner 4y ago
  wrong, it's a shitty metric. consumers care about inflation bc it represe ts their quality of life getting more expensive. trimming is the equivalent of saying "lol just downgrade" which is not a good answer. you can't watch people switch their crab and milk for krab and powdered milk then be like "oh we'll just trim that out of inflation lmao". inflation is not supposed to measure change in average cost of necessities, it's supposed to measure change in a basket of basic goods.
  - ghaff 4y ago
    And that basket naturally shifts over time as certain goods which have reasonable substitutes rise sharply in price, as technology changes, as tastes change, etc. It would obviously be silly to compare against the same basket of goods as was used in 1970.
    - s1artibartfast 4y ago
thelamest 4y ago
Trimmed inflation measures exist, but this one is not it. They’re not used in a sneaky way, they’re clearly named “trimmed CPI”, “trimmed PCE” etc.
stuckinhell 4y ago
Ahh that makes sense. The problem is in the real world, people are still feeling nasty inflation. It's beginning to feel like a 'let them eat cake' moment from the wealthy.

datlife 4y ago

Where do you get the lists of "goods with highest inflation" and "goods with lowest inflation?

s1artibartfast 4y ago
The link at the top of the page is a good start.

kshacker 4y ago

Then that should hurt them when inflation reduces, no?

readthenotes1 4y ago
How? If they're always excluding 7% more of the goods whose prices rose more, the trimmed CPI will always be lower than the CPI-U, which some people say is always lower than what people actually experience. The entitlement adjustments made based on trimmed CPI will always be less than the inflation even the gov't admits people are experiencing.

spoonjim 4y ago

Trimmed inflation is a better measure than non-trimmed for goods with substitutes. Bacon going up 1000% in price is not as bad as all food going up 5% in price because you can just stop eating bacon, but you can't just stop eating.

Gareth321 4y ago
Yes but now you don't get to eat bacon and you're eating tofu bacon instead. You're still alive, but are you really living? More seriously, that quality of life decrease is now completely ignored. I think it's worth acknowledging that it's happening.
- thrashh 4y ago
  Yeah but so much of happiness is relative and pure mindset. If you never knew about bacon or forgot about it, you would be just as happy. And at the end of the day, it’s more important to be happy
  - inawarminister 4y ago
    You will own nothing. And you will be happy. - a popular quote in the internet
collegeburner 4y ago
wrong, it's a shitty metric. consumers care about inflation bc it represe ts their quality of life getting more expensive. trimming is the equivalent of saying "lol just downgrade" which is not a good answer. you can't watch people switch their crab and milk for krab and powdered milk then be like "oh we'll just trim that out of inflation lmao". inflation is not supposed to measure change in average cost of necessities, it's supposed to measure change in a basket of basic goods.
- ghaff 4y ago
  And that basket naturally shifts over time as certain goods which have reasonable substitutes rise sharply in price, as technology changes, as tastes change, etc. It would obviously be silly to compare against the same basket of goods as was used in 1970.
  - s1artibartfast 4y ago

thelamest 4y ago

Trimmed inflation measures exist, but this one is not it. They’re not used in a sneaky way, they’re clearly named “trimmed CPI”, “trimmed PCE” etc.

stuckinhell 4y ago

Ahh that makes sense. The problem is in the real world, people are still feeling nasty inflation. It's beginning to feel like a 'let them eat cake' moment from the wealthy.