The Inflation Series Part 3: Consumer Price Inflation And How the Consumer Price Index ("CPI") Impacts Your Life

I'd Rather Be Right with Luc & Nate

English - August 23, 2022 09:00 - 34 minutes - 32.2 MB - ★★★★★ - 1 rating
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Previous Episode: The Inflation Series Part 2: Monetary Inflation and How Money Printing Is Making The Rich Richer and The Poor Poorer

Next Episode: The Inflation Series: Hyperinflation Part 1: Ancient Hyperinflations, Weimar, and Zimbabwe and The Warnings They Provide

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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