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> the whole economy is arguably a bubble. No, you're not suppose to notice. I mean just last week there was another "tweak" to the CPI calculation[1], but we
by tenpies 4y ago
> the whole economy is arguably a bubble.
No, you're not suppose to notice. I mean just last week there was another "tweak" to the CPI calculation[1], but we still came in absurdly hot at 6% YoY. It's about the 4th change in two quarters if I'm remembering correctly.
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[1] https://www.bls.gov/cpi/notices/2023/methodology-changes-2023.htm https://www.bls.gov/cpi/notices/2023/methodology-changes-202...
- marcosdumay 4y agoOnly one of the changes on that page is actually relevant, and it's 6 months old.
- NhanH 4y agoThe biggest change is on the homepage itself: > Starting with January 2023 data, BLS updated weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using 2 years of expenditure data.
- marcosdumay 4y agoWell, a lot of small corrections seem better than a few large ones to me. Maybe it captures some noise, and it's worse, but I don't think one year of data is small enough to go past the optimum. It is healthy to have some amount of mistrust of official data, but those adjustments are very well defined, and there's no evidence that they deviated from the usual procedure on making them. It's not them happening that taints the data.