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The basket is determined by what people actually buy, rather than what they would like to buy. And they are about two years behind, so the current basket is bas
by amanaplanacanal 1y ago
The basket is determined by what people actually buy, rather than what they would like to buy. And they are about two years behind, so the current basket is based on surveys done in 2023.
- bko 1y agoSo based on your experience, your food budget went up about 28% from pre-covid? They have a lot of discretion, it's not formulaic. If it was, ironically it would be great to privatize! Here are the specs, and provide proof. Easy. Here is from the world bank talking about tight and loose specifications: > The CPI Manual refers to tight and loose specifications of product or item varieties. Tight specifications better facilitate the calculation of average prices and ensure comparability of items across countries, which is the aim of ICP price collection. Accordingly, the ICP stipulates strict requirements for the selection of items for pricing. These may include restricting the choice of brand or the size of an item by weight, volume, or quantity for example. For the CPI, tight specifications tend to be useful for electronic and other items with high rates of turnover. Again, look at the facts: 1. It's complicated and not easily observable 2. There is some discretion 3. Politics and trillions in government spending is on stake 4. The numbers don't match personal experience https://thedocs.worldbank.org/en/doc/2b29c1445d7fa006e5f4ca00087dbe36-0050022021/original/Guide-CPI-and-ICP.pdf https://thedocs.worldbank.org/en/doc/2b29c1445d7fa006e5f4ca0...
- amanaplanacanal 1y agoEverybody's personal experience will be different. I can't speak to yours.