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A comment on Using inflation tracking methods from 80s and 90s, inflation would be ~10%. Parent comment

Re:Using inflation tracking methods from 80s and 90s, inflat... by BelenusMordred on Tuesday April 20, 2021 @11:56AM (#26876370)
It's a weighted basket of goods and services.

In Australia we removed housing purchase costs from the inflation basket in 1998.

To no ones surprise 20 years later it has ballooned wildly out of control over that timeframe.

If you remove something from the basket, you make every person who wants to buy that item/service non-existent in the eyes of a central bank.

Yet many seem to defend how inflation is decided and changed on a whim. Combine that with the magic number of 2-3% inflation being good, with any other number being bad, and it's clear that the current paradigm which was created in a very different world 60 years ago is a complete fucking mess.

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Re:Using inflation tracking methods from 80s and 90s, inflat... by cryptonector on Tuesday April 20, 2021 @12:01PM (#26876461)
That happened in the U.S. as well. If asset prices had stayed in the CPI then presumably interest rates would have to have stayed higher to keep those prices from getting out of control.
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