News for hackers. Stuff that matters.
Re:America's 1% Has Taken $50T From the Bottom 90% by throwaway2037 on Friday February 12, 2021 @03:22AM (#26111678)
You wrote: "food is not included". The US Federal Reserve currently uses the personal consumption expenditures (PCE) price index. Read more here: https://en.wikipedia.org/wiki/Personal_consumption_expenditu...

The PCE fraction for "food and beverages" (home, away, alcohol) ranges from 13.8% to 17.0%.

That Wiki page also has a nice comparison to the consumer price index (CPI), which was previously used by the US Fed. US Social Security still uses CPI to adjust national pension payments.

Also, you wrote that food prices had more inflation in 2020 compared to other recent years. During the COVID-19 pandemic, many people had cheaper transportation costs, which would offset some or all of this food price inflation.

There are no comments on this comment yet.