this post was submitted on 21 Nov 2023
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[–] [email protected] 1 points 1 year ago (1 children)

What are you using the inflation number for? How does saying it is up 15% help you?

The point of measuring inflation at all is that we can use the information to make decisions. Knowing that inflation is slowing or rising is useful. I know prices have gone up. What I want to know is how much they are likely to go up in the future. Am I stockpiling sugar or putting a little money into stocks? How long should I lock my mortgage in for? Will I even be able to afford it? Do I need a second source of income? Or do I think I might be able to save a little this year for a big purchase? How much money am I going to need to retire? How old will I be?

The value of these numbers is forward looking. If I want to know that prices have gone up, I can just go to the store. I do not need the government for that.