Re:World food prices hit 10-year peak – FAO
by blagie on Wednesday October 13, 2021 @05:08PM
(#28857759)
That's a universal problem in estimating inflation. People buy different things, and products come and go.
How do you compare a house build to 1900 standards to one build to 2020 standards? How do you compare fresh foods from the local farmer to factory-manufactured ones?
People shift preferences based on prices too. Manufactured goods started out as premium products, and now, fresh foods are increasingly a premium product.
It's an impossible problem. People either do their best, or lie with statistics, depending on the domain.
How do you compare a house build to 1900 standards to one build to 2020 standards? How do you compare fresh foods from the local farmer to factory-manufactured ones?
People shift preferences based on prices too. Manufactured goods started out as premium products, and now, fresh foods are increasingly a premium product.
It's an impossible problem. People either do their best, or lie with statistics, depending on the domain.