Re:Working hours: Get a life
by yummyfajitas on Wednesday September 25, 2013 @02:50PM
(#6446489)
Food and gas make inflation volatile, but they don't much change the long term trend. Inflation in food and gas is actually lower than inflation in core CPI.
The big issues with CPI over the long term are the lack of hedonic adjustments in medical care and the change in the composition of the basket of goods being measured. These tend to bias CPI up, not down.
http://research.stlouisfed.org/fred2/series/CPIAUCSL http://research.stlouisfed.org/fred2/series/CPILFESL
http://www.newyorkfed.org/research/staff_reports/sr236.pdf
The big issues with CPI over the long term are the lack of hedonic adjustments in medical care and the change in the composition of the basket of goods being measured. These tend to bias CPI up, not down.