3 ms·
> who gets to choose what's in what basket? Economists. Y'know, people who do that professionally. > Which choices are correct, and which ones are not? http:
by opendais 12y ago
> who gets to choose what's in what basket?
Economists. Y'know, people who do that professionally.
> Which choices are correct, and which ones are not?
http://www.bls.gov/cpi/cpifaq.htm#Question_6 http://www.bls.gov/cpi/cpifaq.htm#Question_6
- JetSpiegel 12y agoOhh, the "trust me I'm a professional" defence. That doesn't answer the question. Or do they use chicken entrails?
- opendais 12y agoBy all means, provide a concrete example that doesn't rely on cherrypicking data [such as simply picking food or a methodology I can't find without giving someone money] showing they are incorrect.
- MaysonL 12y agoOr you could look at the "Billion Prices Project" at MIT which actually only monitors ~5 million prices, but still says inflation is only a very little bit worse than the CPI... http://bpp.mit.edu/usa/ http://bpp.mit.edu/usa/