3 ms·

It's not a lie, it's just not so simple that you can stop reading after the headline. This very post includes information about category-by-category inflation.

by elil17 4y ago

It's not a lie, it's just not so simple that you can stop reading after the headline. This very post includes information about category-by-category inflation. Inflation for food has been about 10% YOY. Dairy is 15% and fresh milk is 14.5% (13.2% for whole milk and 15.4% for 0, 1, and 2% milk).

tharne 4y ago
The numbers are a lie, or at the very least, vastly understate the impact. For example, if I used to buy grass-fed beef, but am now buying the grade D crap because prices are so high, that doesn't get captured in the inflation numbers. And there are a whole host of things like that; you'll notice many hotels have scaled back on cleaning frequency but the price of a room hasn't gone done, so you're paying the same for less. Again, that's not reflected in the inflation number.
- roflyear 4y ago
  Stop eating meat. You don't have to eat meat.
  - tharne 4y ago
    This puritanical mindset is part of the reason we've made so little progress on things like climate change. When you're first recommendation is for people to live more impoverished lives, don't be surprised when your ideas don't get the traction you think they should.
- tootie 4y ago
  The headline inflation number is not at all intended to state the impact of anything. It's an aggregate number used as an indicator to inform macro policy. BLS reports all of the granular data points that roll up to the headline number. Your personal experience will absolutely never be accurately reflected in a single number for the nation. People hone in on food and energy because they buy them frequently and demand is inelastic, but they are by far the most volatile and can be affected by all sorts of heterogeneous inputs. National numbers will be heavily impacted by infrequent, larger purchases like housing and cars and other durable goods. The affects of inflation can hit certain verticals harder or softer. They can also be heavily regional. They can affect suburbs differently than urban residents (gas in particular doesn't affect subway riders). Go click through the BLS site for CPI reporting: https://www.bls.gov/cpi/ https://www.bls.gov/cpi/
- elil17 4y ago
  The way CPI is calculated is complex, but they do try to account for substitution and quality changes: https://www.bls.gov/cpi/factsheets/common-misconceptions-about-cpi.htm https://www.bls.gov/cpi/factsheets/common-misconceptions-abo... See "When the cost of food rises, does the CPI assume that consumers switch to less desired foods, such as substituting hamburger for steak?" and "Is the use of "hedonic quality adjustment" in the CPI simply a way of lowering the inflation rate?".
dawnerd 4y ago
Also depends on the geographic region. Soft beverages for example in some places haven’t changed much but out here on the west coast have done from 4 for 10 dollars on sale to 3 for 15 for 12 packs.
- lotsofpulp 4y ago
  Water is dense, and needs a lot of energy to transport. It makes sense that if energy costs go up, the price of beverages will go up more in places where distances are larger.

by elil17 4y ago

tharne 4y ago

The numbers are a lie, or at the very least, vastly understate the impact. For example, if I used to buy grass-fed beef, but am now buying the grade D crap because prices are so high, that doesn't get captured in the inflation numbers. And there are a whole host of things like that; you'll notice many hotels have scaled back on cleaning frequency but the price of a room hasn't gone done, so you're paying the same for less. Again, that's not reflected in the inflation number.

roflyear 4y ago
Stop eating meat. You don't have to eat meat.
- tharne 4y ago
  This puritanical mindset is part of the reason we've made so little progress on things like climate change. When you're first recommendation is for people to live more impoverished lives, don't be surprised when your ideas don't get the traction you think they should.
tootie 4y ago
The headline inflation number is not at all intended to state the impact of anything. It's an aggregate number used as an indicator to inform macro policy. BLS reports all of the granular data points that roll up to the headline number. Your personal experience will absolutely never be accurately reflected in a single number for the nation. People hone in on food and energy because they buy them frequently and demand is inelastic, but they are by far the most volatile and can be affected by all sorts of heterogeneous inputs. National numbers will be heavily impacted by infrequent, larger purchases like housing and cars and other durable goods. The affects of inflation can hit certain verticals harder or softer. They can also be heavily regional. They can affect suburbs differently than urban residents (gas in particular doesn't affect subway riders). Go click through the BLS site for CPI reporting: https://www.bls.gov/cpi/ https://www.bls.gov/cpi/
elil17 4y ago
The way CPI is calculated is complex, but they do try to account for substitution and quality changes: https://www.bls.gov/cpi/factsheets/common-misconceptions-about-cpi.htm https://www.bls.gov/cpi/factsheets/common-misconceptions-abo... See "When the cost of food rises, does the CPI assume that consumers switch to less desired foods, such as substituting hamburger for steak?" and "Is the use of "hedonic quality adjustment" in the CPI simply a way of lowering the inflation rate?".

dawnerd 4y ago

Also depends on the geographic region. Soft beverages for example in some places haven’t changed much but out here on the west coast have done from 4 for 10 dollars on sale to 3 for 15 for 12 packs.

lotsofpulp 4y ago
Water is dense, and needs a lot of energy to transport. It makes sense that if energy costs go up, the price of beverages will go up more in places where distances are larger.