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Posted on 1/17/23 at 8:55 pm to Oilfieldbiology
Just the fact that they spout bullshite year over year numbers is enough to tell you they’re being misleading
Look at TOTAL INFLATION since the scamdemic, not year or two year
Look at TOTAL INFLATION since the scamdemic, not year or two year
Posted on 1/17/23 at 9:19 pm to Trevaylin
So I dug around and found what is actually changing.
They are now updating the expenditure weights every year instead of every two years. It used to be every 10 years but that changed in 2002.
LINK
They are now updating the expenditure weights every year instead of every two years. It used to be every 10 years but that changed in 2002.
LINK
quote:
BLS plans to update the spending weights in the calculation of the CPI every year instead of every 2 years. Spending weights indicate what share of total expenditures each item represents. This change will improve the relevance of CPI spending weights by using the most recent consumer spending information. By improving the relevance of spending weights, BLS can improve the accuracy of the CPI.
quote:
Prices of goods and services that make up the CPI market basket are updated every month, but their spending weights are updated every 2 years. This biennial weight revision was an improvement BLS made in 2002. Before 2002, we updated spending weights every 10 years. The International Labour Organization (ILO) publishes a manual of methods and practices about the consumer price indexes for national statistical organizations. The 2020 ILO manual recommends updating spending weights at least every 5 years.
Posted on 1/17/23 at 9:26 pm to Trevaylin
quote:
Inflation will be significally down in the January report, released feb 10
Family size Oreo double stuff is rolled back a dollar. At Walmart.
Great days a commin'
Posted on 1/17/23 at 9:33 pm to JohnnyKilroy
quote:
They are now updating the expenditure weights every year instead of every two years. It used to be every 10 years but that changed in 2002.
Hmmmmmmm….
What happened in 2001/2002 that could possibly have merited this change? Oh that’s right, absurd government spending the likes of which we never saw before.
And it’s never stopped. Only accelerated. If you would have told far left democrats that the current budget would be multiple trillion dollars in deficit spending, they would have shite bricks over the irresponsibility of it. Instead, boomers, Gen x, and millennials just kept printing baby.
This post was edited on 1/17/23 at 9:37 pm
Posted on 1/17/23 at 11:43 pm to Trevaylin
What's that amount to in quarters?
Posted on 1/17/23 at 11:47 pm to hellsu
quote:
Family size Oreo double stuff is rolled back a dollar. At Walmart. Great days a commin'
Posted on 1/18/23 at 12:25 am to JohnnyKilroy
quote:
Can you link the bls page that describes the change of calculation method in the OP?
Not OP, but I’ll lend a helping hand. January 2023 changes.
BLS Changes in OER
BLS Methodology Paper
Gist1: Owner’s Equivalent Rent (OER). The new method will use neighborhood level information on housing structure types to weight OER’s unit sample observations.
Gist2: Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using two years of expenditure data.
Posted on 1/18/23 at 12:27 am to Trevaylin
Our household budget has gone from 400 to 800 per month. Fjb
Posted on 1/18/23 at 1:42 am to Sneauxghost
quote:Do you have growing children?
Our household budget has gone from 400 to 800 per month. Fjb
Posted on 1/18/23 at 1:48 am to Ingeniero
quote:
Any word on orange juice futures?
Not sure but pork belly prices have been dropping all morning, which means that everybody is waiting for it to hit rock bottom, so they can buy low.
Posted on 1/18/23 at 2:30 am to deeprig9
quote:
They are losing their arse on ibonds so they have to cook the books to get the interest rates down.
Yep, when was the last time bonds and CD’s were outperforming the stock market.
I was thinking about pulling out some IRA funds as a hedge to the market if another downturn was coming, but I looked at my IRA funds that I am invested in. I would be a fool to do it now.
The fund share prices peaked in December of 2021 when some of my funds peaked at over 120 a share. The bottom fell in January 2022 losing half its value in the first quarter and not recovering and staying stagnant all year. So essentially, I bought a year’s worth of shares on sale. Once those funds start recovering, those valuations should show some nice gains.
Posted on 1/18/23 at 3:30 am to tigerbait3488
quote:
Need to ask Beeks on those juice futures….if we can find him
Posted on 1/18/23 at 3:57 am to hellsu
quote:
Family size Oreo double stuff is rolled back a dollar. At Walmart.
Great days a commin'
Nevermind the price on those oreo's has gone up 3 dollars in that 2 year timeframe but hey they roll it back a dollar and everybody be like
Posted on 1/18/23 at 3:59 am to Trevaylin
quote:
Inflation will be significally down
They will make up BS numbers then. Because I don't know a damned thing that's cheaper now then it was 2 years ago.
Posted on 1/18/23 at 4:47 am to tigerbait3488
quote:
Need to ask Beeks on those juice futures
Theyre in the trunk of Pedo Joe's Vette
Posted on 1/18/23 at 8:00 am to Trevaylin
quote:
Inflation will be significally down in the January report,
Are they changing the definition of inflation?
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