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A comment on The cost of raising a child in America has soared (2018). Parent comment
Inflation statistics in the UK are almost entirely useless for the same reason.
You cannot use CPI to determine a "real rate of return" because anything you'd actually want to buy is not included.
The basket makes up something daft like 10-20% of my expenditure because, yeah, groceries and electronics and stuff are cheap.
It's a metric that only really has relevance to retirees with homes paid off on a fixed income. Everyone else spends ~40%+ on housing.
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Inflation statistics in the UK are almost entirely useless for the same reason.
You cannot use CPI to determine a "real rate of return" because anything you'd actually want to buy is not included.
The basket makes up something daft like 10-20% of my expenditure because, yeah, groceries and electronics and stuff are cheap.
It's a metric that only really has relevance to retirees with homes paid off on a fixed income. Everyone else spends ~40%+ on housing.