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> Also keep in mind, sometimes the most valuable data is never recorded but it's still data. Off the top of my head example: shrinkflation. Price doesn't go up
by Izkata 3y ago
> Also keep in mind, sometimes the most valuable data is never recorded but it's still data.
Off the top of my head example: shrinkflation. Price doesn't go up, but amount of product per package goes down.
- gruez 3y ago>Price doesn't go up, but amount of product per package goes down. The BLS is well aware of this and it's already factored into CPI calculations. 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...
- fuzzfactor 3y agoDo you remember when & why CPI calculations first were made by BLS? There are clues all over but this page has some good info itself: https://inflationdata.com/Inflation/Consumer_Price_Index/HistoricalCPI.aspx https://inflationdata.com/Inflation/Consumer_Price_Index/His...
- gruez 3y agoHow is this relevant to shrinkflation and/or whether the BLS is accounting for it in their calculations?
- fuzzfactor 3y agoIf the BLS approach as developed under crisis conditions is not very realistic to begin with, it makes it more difficult to trust their indicated trends, much less accuracy of their numbers. It could even be at the point where BLS misindication, and shrinkflation's misrepresentation, are symptoms of the same disfunction to the same degree.