Food Prices Are Soaring Faster Than Inflation and Incomes

Re:Food Prices Are Soaring Faster Than Inflation and Incomes by Wolfenstein98k on Monday March 08, 2021 @08:48AM (#26385633)

There is no significant inflation measure that does not include food.

I agree they're not the entirety of the basket, but they are a core component.

There is no "general price level".

[ Parent | on HN ]

Re:Food Prices Are Soaring Faster Than Inflation and Incomes by em500 on Monday March 08, 2021 @10:40AM (#26386845)

Food and Beverages make up 15% of the US CPI basket. Some other major components are Housing (42%) and Transport (15%).

Here's the full list, which make up the "general price level": https://www.bls.gov/cpi/tables/relative-importance/2020.htm If you believe food is underweighted, then what category do you believe is overweighted?

[ Parent | on HN ]

Re:Food Prices Are Soaring Faster Than Inflation and Incomes by eru on Monday March 08, 2021 @09:25AM (#26386058)

There is a "general price level", it's just the price level of a sufficiently broad basket.

[ Parent | on HN ]