Quote:
Originally Posted by Chrysalis
I use that term because I believe official inflation figures to be below real inflation, the first reason for that is there is a 2nd inflation figure which is higher which includes housing costs, so wage increases are based on a inflation figure that excludes housing costs, the 2nd reason is the games played to shuffle goods around in the algorithm so things that go up a lot in price arent used so the official inflation appears lower.
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It is what it is, it may not be perfect but it's a standard. Wage inflation contributes to real inflation too, use the wrong measure carelessly and you push inflation up in every measure.
Inflation is very, very, very bad.