Re:U.S. inflation cools again, giving Fed room to downshift ...
by smileysteve on Thursday January 12, 2023 @12:15PM
(#34357012)
I'm not questioning the survey results, I am challenging the lack of importance of eggs.
Re:U.S. inflation cools again, giving Fed room to downshift ...
by throw0101c on Friday January 13, 2023 @07:39AM
(#34366908)
> I'm not questioning the survey results, I am challenging the lack of importance of eggs.
The survey would determine how many eggs people eat, both directly (omelettes) or indirectly (as a component, as in cake):
* https://www.statista.com/statistics/183678/per-capita-consum...
And from there the BLS would know how many to put in the basket of goods it uses. Which they have listed in this table:
* https://www.bls.gov/news.release/cpi.t02.htm
And here's the data series for the price of eggs:
* https://data.bls.gov/timeseries/APU0000708111
* https://fred.stlouisfed.org/tags/series?t=bls%3Beggs
The survey results would would indicate the the "importance of eggs" in the average case.
Yes, and food makes up ~13% of the BLS CPI. This is taken into account when they do their surveys to see what people are spending their money on:
* https://en.wikipedia.org/wiki/Consumer_Expenditure_Survey
Remember that the CPI is the national average inflation for an average basket of goods, and not your personal inflation. In Canada, StatCan actually has a personal CPI tool so that you can see how things are for your personal basket of goods:
* https://www150.statcan.gc.ca/n1/pub/71-607-x/71-607-x2020015...