World food prices hit 10-year peak

Re:World food prices hit 10-year peak – FAO by nimos on Monday October 11, 2021 @02:31AM (#28825396)

Yup. Welcome to the wild wild west of hedonic adjustment. Things like side impact airbags and rear view cameras basically give the BLS unlimited power to drive down inflation.

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Re:World food prices hit 10-year peak – FAO by standeven on Monday October 11, 2021 @02:50AM (#28825515)

I don't believe new or used vehicle purchases qualify for hedonic adjustments.

https://www.bls.gov/cpi/quality-adjustment/home.htm

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Re:World food prices hit 10-year peak – FAO by nimos on Monday October 11, 2021 @03:02AM (#28825587)

Cars fall under cost based adjustments. This is the most recent (AFAIK) document the BLS has published: https://www.bls.gov/cpi/quality-adjustment/new-vehicles.pdf

It's not entirely an unfair point in the sense clearly a modern car with modern safety and electronics costs more to produce (hence the cost basis). But as far as I know the BLS is basically given free reign to invent the cost basis.

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