Re:U.S. inflation cools again, giving Fed room to downshift ...
by markus_zhang on Thursday January 12, 2023 @09:58AM
(#34354406)
To me the data is more or less meaningless. I keep a notebook of my own inflation record for food and fuel.
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Re:U.S. inflation cools again, giving Fed room to downshift ...
by ryhn22 on Thursday January 12, 2023 @10:02AM
(#34354474)
Can you add something to the discussion by either sharing what your records show for you personally or addressing why a large/broad dataset is "meaningless" in the face of your smaller dataset?
Re:U.S. inflation cools again, giving Fed room to downshift ...
by markus_zhang on Thursday January 12, 2023 @10:07AM
(#34354555)
It's meaningless because every individual follows his or her own life. For example, getting a new house might increase your rent while the "average" rent drops.
What I'm trying to say is, unless for investment or research, these data doesn't have much to do with we as individuals. You can see people arguing that "You all feel X goes up but I don't feel that", and I'm just saying the same thing but from a different perspective.
Re:U.S. inflation cools again, giving Fed room to downshift ...
by pwinnski on Thursday January 12, 2023 @10:22AM
(#34354806)
Mostly people arguing that the numbers are "wrong" are misunderstanding what low inflation means. Low inflation means prices won't continue to rise. It does not mean that prices will come down. The prices you remember from two years ago, they're gone. They're not even considered when calculating inflation numbers now.
Re:U.S. inflation cools again, giving Fed room to downshift ...
by markus_zhang on Thursday January 12, 2023 @10:41AM
(#34355142)
True, but price fluctuations are still "individual" things, when we consider the cost. The CPI is at best a very vague/inaccurate number for personal financial planning. Looking at one's bills are far more useful.
Re:U.S. inflation cools again, giving Fed room to downshift ...
by starkd on Thursday January 12, 2023 @11:05AM
(#34355580)
Nobody was claiming CPI was for looking at personal financial planning. It is about the larger economy that in turn effects individuals.
Re:U.S. inflation cools again, giving Fed room to downshift ...
by UncleMeat on Thursday January 12, 2023 @10:33AM
(#34355015)
Sure, CPI data won't be accurate for a single person. But we also probably shouldn't base monetary policy off of your personal spending.
Re:U.S. inflation cools again, giving Fed room to downshift ...
by markus_zhang on Thursday January 12, 2023 @10:43AM
(#34355173)
Yeah, that's why I don't think we should use individual cases when discussing CPI, as shown by many comments here. Instead let's focus on macroeconomic discussion.