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|Subject: Re: Lies, damn lies and CPI||Date: 3/24/2013 1:04 PM|
|Author: Goofyhoofy||Number: 14008 of 22987|
Those who believe that inflation is only 2%, when it may be 5-8%,
OK. M.I.T. has something called "the billion price index", in which the computer literate dispatch web crawlers to find the prices of identical items, month after month, and from that calculate inflation. These are real prices, not heuristic substitutions, compared day after day, week after week, month after month.
Current annual rate of inflation: 2.01%.
I do wish the people who insist inflation is 8% would give some data on where they get such an absurd number, but perhaps that isn't important to places like mauldineconomics.
Some things have gotten cheaper: Bills for car repair and computer repair are a lot less than they used to be because mean time between failures (MTBF) has grown exponentially as quality improves. Some of my computer related equipment (DSL router and Ethernet hub) are 15 or 20 years old and have never failed. While gas pri