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The author arbitrarily picked an outlier looking peak to start the graph vs consumer pricing to severely bias the graphs. May 2020 (graph 100 index) has a price
by sct202 3y ago
The author arbitrarily picked an outlier looking peak to start the graph vs consumer pricing to severely bias the graphs. May 2020 (graph 100 index) has a price index of 265, but April 2020 is 185 and Jun 2020 is 194.
https://fred.stlouisfed.org/series/WPU0221 https://fred.stlouisfed.org/series/WPU0221
*edit April not Feb
*Edit2: Linked wrong graph, but correct graph is like the same trend. Thank you for the correction.
- lcnPylGDnU4H9OF 3y ago> to severely bias the graphs How does this bias manifest? It looks like what you linked is comparing something different but I wonder if I am misunderstanding.
- tyrfing 3y agoThe PPI time series they use is indexed to the outlier you see in 2020, although that's the incorrect chart - this should be a better one: https://fred.stlouisfed.org/series/WPU0221 https://fred.stlouisfed.org/series/WPU0221 The conclusion is that industry PPI is down 20% since 2020, which is ridiculously misleading. Speaking of incorrect charts, they used "Meats, poultry, fish, and eggs", which is the time series easily available on FRED, but on this timeframe is mostly about eggs - the one component irrelevant to the article. The fact that this was written by a "Sr Data Scientist" is laughable, but probably average Silicon Valley economics.