The Inflation Series Part 3: Consumer Price Inflation And How the Consumer Price Index ("CPI") Impacts Your Life
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The Inflation Series Part 3: Consumer Price Inflation And How the Consumer Price Index ("CPI") Impacts Your Life
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On this episode, we do a deep dive into consumer price inflation.
Here's some of what we cover.
- A Basic Definition
- The Consume Price Index ("CPI") including some of its history, how it is calculated, and how and why the government makes changes to the calculations, and some criticisms of CPI.
- Some alternate measurements for consumer price inflation.
- Then we discuss if Luc and Nate were working for the government, how and why they would adjust CPI.
Resources mentioned in this episode:
The Bureau of Labor Statistics ("BLS"): Hedonic Quality Adjustment FAQ
BLS: The List of Items Subject To The Hedonic Quality Adjustment
Chapwood Index
John Williams' 1980s CPI Measurement on Shadow Stats
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