BernankesBeard t1_jabpuuf wrote
Reply to comment by marmorset in TIL that in the period of time since the introduction of the consumer price index, the highest inflation rate observed in the U.S. was 20.49% in 1917. by ringopendragon
>Food and energy, which often rise the most, sometimes aren't figured into the inflation rate.
Headline CPI and CPI Core are two entirely different metrics. Food and energy often fall the most too. They're highly volatile and add a ton of noise to the measure. In the long run, they're effectively the same and since CPI Core is less noisy and a better predictor of future headline CPI than current headline CPI itself, policymakers generally prefer to look at it.
>The unemployment rate isn't trustworthy either. It used to estimate the unemployed, but now sometimes they exclude people who are unemployed but aren't collecting unemployment anymore.
Yeah this is just absolute bullshit. Here's the BLS:
> Classification as unemployed in no way depends upon a person's eligibility for, or receipt of, unemployment insurance benefits. There is no requirement or question relating to unemployment insurance benefits in the monthly Current Population Survey.
> I used to buy chicken breast at $1.79 a pound, now I pay $2.99 a pound. Milk was $2.45 a gallon, now it's $3.75 a gallon. That's just two years ago, and they're both over 50% more expensive, a far cry from the 10% the government claims.
It's almost as, and bear with me here, American consumers have more than just Chicken and Milk in their consumption basket.
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