Re:Savings and Loan Crisis 1980–1989
by lottin on Monday May 01, 2023 @03:21PM
(#35777785)
Prices of articles can vary due to changes in the price level and due to other causes (such as obsolescence, changes in consumer preferences, and so on). CPI only informs us about changes in the price level, it doesn't tell us anything about anything else. So the fact that the price of a particular article hasn't changed exactly according to CPI is completely normal, and not a reason to believe that the CPI is "wrong".
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Then the CPI should never be used to say, "This home worth ~$30k in 1958 is worth ~$300k today," when such a statement is so blatantly inaccurate.