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re: Debunking wild conspiricies
Posted on 5/22/14 at 9:56 am to ZereauxSum
Posted on 5/22/14 at 9:56 am to ZereauxSum
quote:
You add food and energy and you end up with a nonsensical metric that is too volatile to use
Wouldn't the elastic demand of personal goods be far less indicative of the economy than the vital importance of food or energy?
When I see CI I just see a way for politicians to say "see, inflation isn't so bad" when it really is.
1
Posted on 5/22/14 at 10:56 am to MagicCityBlazer
quote:
Wouldn't the elastic demand of personal goods be far less indicative of the economy than the vital importance of food or energy?
You're not (or shouldn't be) trying to measure the health of the economy with an inflation metric by itself. It doesn't tell you enough.
My point is that if you want to measure price changes over time, especially a small amount of time like a year or so, doing it with food and energy included isn't going to tell you anything.
To illustrate my point, check out the graph below. If you were looking at CPI-All in 2008 you would have thought life was great when clearly it wasn't.
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