Comments on economics, mystery fiction, drama, and art.

Friday, May 06, 2016

Are the "official" inflation measures in the US biased?

There seems to be a fair number of people who will argue that the "official" inflation data from the BLS is biased downward...either the "right" data are not collected or the calculation incorrectly weights the data or something.  Well, the MIT Billion Price Project has been going for a while now (nearly 10 years), and both the annual and the monthly rates of inflation based on their data look suspiciously like the BLS data.  You can see for yourself by clicking on the link.


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