Re:Nearly half of American workers don’t earn enough to affo...
by throw0101a on Thursday August 12, 2021 @10:27PM
(#28164642)
> But… that is inflation. Prices are going up. Such is the anecdata?
But what proportion do [thing] and [thing stays the same] make up of your budget? That's why the CPI uses a basket of goods, each in proportion to what the average person uses in their lives to find the average inflation.
And some [thing]s may be more noticeable than others: yes, gas may have gone up, but your care insurance perhaps hasn't, and so perhaps hasn't parts and maintenance. But you fill up more often so you notice those prices more and suffer recency bias.
In Canada, StatCan actually has a "Consumer Price Index Personal Inflation Calculator" so that you can find the quantitate number to your personal experience of inflation give your personal basket of goods, versus the average one:
But what proportion do [thing] and [thing stays the same] make up of your budget? That's why the CPI uses a basket of goods, each in proportion to what the average person uses in their lives to find the average inflation.
And some [thing]s may be more noticeable than others: yes, gas may have gone up, but your care insurance perhaps hasn't, and so perhaps hasn't parts and maintenance. But you fill up more often so you notice those prices more and suffer recency bias.
In Canada, StatCan actually has a "Consumer Price Index Personal Inflation Calculator" so that you can find the quantitate number to your personal experience of inflation give your personal basket of goods, versus the average one:
* https://www150.statcan.gc.ca/n1/pub/71-607-x/71-607-x2020015...