19 ms·

These are lies; they keep changing the basket of goods to not reflect the reality of what's included. FTFA: "Excluding food and energy"

ketchupdebugger 3y ago
according to https://www.bls.gov/cpi/ https://www.bls.gov/cpi/ For the past 12 months, energy actually was negative. While food at home rose 1.3%. These wouldn't contribute significantly to the overall numbers
- WalterBright 3y ago
  My electric bill says otherwise.
  - ketchupdebugger 3y ago
    a 2% change of your $100 bill is $2. you are not going to notice if your electric bill is $2 less.
  - zeroonetwothree 3y ago
    I’ll definitely trust your sample size of 1 over the thousands they use for the calculation.
sp332 3y ago
I know it's unhelpful, but it's not new. "Core" inflation leaves those out because they change too rapidly to be useful as trend indicators.
- zeroonetwothree 3y ago
  The top line CPI that gets reported usually isn’t the core one anyway. Generally core is preferred by the Fed so they can make long term money supply decisions without worrying about short term volatility. No one is saying that core reflects what consumers experience.
WalterBright 3y ago
Recently, bell peppers at the store went from $.99 to $1.29. That's 30% inflation. The WSJ also wrote about how the government inflation figures understate inflation, because of things like: 1. shrinkflation - the container has less food in it for the same price 2. unbundling - the extras become extra cost items (a big example of this is luggage fees being separate from the ticket price) https://www.wsj.com/articles/shrinkflation-is-in-the-air-online-and-everywhere-else-streaming-health-insurance-2ba40aa9 https://www.wsj.com/articles/shrinkflation-is-in-the-air-onl... Inflation is significantly higher than the government figures.
- robertoandred 3y ago
  No, that's your store charging more for bell peppers.
  - WalterBright 3y ago
    And everything else.
- zeroonetwothree 3y ago
  This is false, they actually do take it into account. It’s a pretty obvious thing to do after all, it’s not like the CPI is calculated by morons. 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...
  - WalterBright 3y ago
    The CPI is not calculated by morons. It is calculated by the government with a strong incentive to come up with as low a figure they can get away with. Sort of like the Soviet industry production figures, which included phantom industries pumping out imaginary products. GDP looked great!

ketchupdebugger 3y ago

according to https://www.bls.gov/cpi/ https://www.bls.gov/cpi/ For the past 12 months, energy actually was negative. While food at home rose 1.3%. These wouldn't contribute significantly to the overall numbers

WalterBright 3y ago
My electric bill says otherwise.
- ketchupdebugger 3y ago
  a 2% change of your $100 bill is $2. you are not going to notice if your electric bill is $2 less.
- zeroonetwothree 3y ago
  I’ll definitely trust your sample size of 1 over the thousands they use for the calculation.

sp332 3y ago

I know it's unhelpful, but it's not new. "Core" inflation leaves those out because they change too rapidly to be useful as trend indicators.

zeroonetwothree 3y ago
The top line CPI that gets reported usually isn’t the core one anyway. Generally core is preferred by the Fed so they can make long term money supply decisions without worrying about short term volatility. No one is saying that core reflects what consumers experience.

WalterBright 3y ago

Recently, bell peppers at the store went from $.99 to $1.29. That's 30% inflation. The WSJ also wrote about how the government inflation figures understate inflation, because of things like: 1. shrinkflation - the container has less food in it for the same price 2. unbundling - the extras become extra cost items (a big example of this is luggage fees being separate from the ticket price) https://www.wsj.com/articles/shrinkflation-is-in-the-air-online-and-everywhere-else-streaming-health-insurance-2ba40aa9 https://www.wsj.com/articles/shrinkflation-is-in-the-air-onl... Inflation is significantly higher than the government figures.

robertoandred 3y ago
No, that's your store charging more for bell peppers.
- WalterBright 3y ago
  And everything else.
zeroonetwothree 3y ago
This is false, they actually do take it into account. It’s a pretty obvious thing to do after all, it’s not like the CPI is calculated by morons. 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...
- WalterBright 3y ago
  The CPI is not calculated by morons. It is calculated by the government with a strong incentive to come up with as low a figure they can get away with. Sort of like the Soviet industry production figures, which included phantom industries pumping out imaginary products. GDP looked great!