3 ms·

You mean the 6 month 2% core inflation? Technology has always depreciated quickly.

ta8645 3y ago
> You mean the 6 month 2% core inflation Those numbers are highly dubious if my shopping experiences are anything close to those of the average person.
- jonhohle 3y ago
  Core inflation == hand picked items by politicians that no one actually cares about or is price sensitive to
  - Retric 3y ago
    Hardly, the actual kicker is they allow substitutions which works well for price conscious consumers, but excludes things that fluctuate rapidly like gas. Still very useful over the long term, but less so when supply shocks hit.
  - TeMPOraL 3y ago
    And which also undercounts the loss of value by a half or more, as the bulk of it manifests as reduction of unit sizes ("shrinkflation") and hidden reduction of quality of goods and services (we need a term for it too).
    - ehnto 3y ago
      It might be overloading the term, but I am partial to using "enshittefication" to describe the phenomenon of products and services getting worse over time. It may well be that the economics persuade businesses to cut costs and lose sight of quality, but I supect it's a company politics issue more than it is economic.
    - QuesnayJr 3y ago
      No, they account for shrinkflation: https://www.bls.gov/opub/btn/volume-12/measuring-shrinkflation-and-its-impact-on-inflation.htm https://www.bls.gov/opub/btn/volume-12/measuring-shrinkflati... They also try to account for changes in quality (they call it hedonic quality adjustment): https://www.bls.gov/cpi/quality-adjustment/questions-and-answers.htm https://www.bls.gov/cpi/quality-adjustment/questions-and-ans...
      - deleted 3y ago
        [deleted]
  - willcipriano 3y ago
    > The war on inflation is over. We won, at very little cost Shows a chart that excludes food, shelter, energy, and used cars. https://twitter.com/paulkrugman/status/1712494317024026761 https://twitter.com/paulkrugman/status/1712494317024026761
ekianjo 3y ago
[flagged]

> You mean the 6 month 2% core inflation Those numbers are highly dubious if my shopping experiences are anything close to those of the average person.

jonhohle 3y ago
Core inflation == hand picked items by politicians that no one actually cares about or is price sensitive to
- Retric 3y ago
  Hardly, the actual kicker is they allow substitutions which works well for price conscious consumers, but excludes things that fluctuate rapidly like gas. Still very useful over the long term, but less so when supply shocks hit.
- TeMPOraL 3y ago
  And which also undercounts the loss of value by a half or more, as the bulk of it manifests as reduction of unit sizes ("shrinkflation") and hidden reduction of quality of goods and services (we need a term for it too).
  - ehnto 3y ago
    It might be overloading the term, but I am partial to using "enshittefication" to describe the phenomenon of products and services getting worse over time. It may well be that the economics persuade businesses to cut costs and lose sight of quality, but I supect it's a company politics issue more than it is economic.
  - QuesnayJr 3y ago
    No, they account for shrinkflation: https://www.bls.gov/opub/btn/volume-12/measuring-shrinkflation-and-its-impact-on-inflation.htm https://www.bls.gov/opub/btn/volume-12/measuring-shrinkflati... They also try to account for changes in quality (they call it hedonic quality adjustment): https://www.bls.gov/cpi/quality-adjustment/questions-and-answers.htm https://www.bls.gov/cpi/quality-adjustment/questions-and-ans...
    - deleted 3y ago
      [deleted]
- willcipriano 3y ago
  > The war on inflation is over. We won, at very little cost Shows a chart that excludes food, shelter, energy, and used cars. https://twitter.com/paulkrugman/status/1712494317024026761 https://twitter.com/paulkrugman/status/1712494317024026761

ekianjo 3y ago

[flagged]