> The CPI is dastardly manipulated figures. (hedonic adjustments, substitutions) That's not manipulation. That's just trying to calculate an accurate number.

> The CPI is dastardly manipulated figures. (hedonic adjustments, substitutions) That's not manipulation. That's just trying to calculate an accurate number. If you do no substitutions, then you will end up being a Collectible Goods Index, rather than a Consumer Goods Index. It makes no sense to calculate inflation in 2013 based on a basket of goods from 1919. But that creates another problem. If you do no hedonic adjustments, then you will overstate inflation if consumers move upmarket. It's not the prices that went up -- it's consumer purchasing habits.