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by throw0101a
1248 days ago
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> Produce is up massively. And? Food prices make up ~13% of the BLS CPI because, according to their surveys, that is what the national average is for an average basket of goods: * https://en.wikipedia.org/wiki/Consumer_Expenditure_Survey If you purchase more or less food than average, then your personal CPI will be different that the average that is reported in headlines. Further, the fact that you see some the price (inflation) in your face regularly is a form of cognitive bias: * https://en.wikipedia.org/wiki/Attentional_bias People noticed petrol prices go up and that inflation, but they're thinking less about the deflation of petrol going down, probably because they think the lower prices are "normal". |
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