Are Inflation Numbers WRONG?! 🤨

Are the indexes that measure inflation built to ensure the reported numbers are lower than the actual numbers? Let's take a look at the CPI-U and discover some weird stuff going on.

BLS 2021 Inflation in Review https://www.bls.gov/opub/ted/2022/consumer-price-index-2021-in-review.htm

CPI Weighting https://www.bls.gov/cpi/tables/relative-importance/2020.htm

BLS Owner’s equivalent of rent https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-and-rent.pdf

BLS Data Sources - How it’s collected
https://www.bls.gov/opub/hom/cpi/data.htm#:~:text=CPI%20price%20data%20are%20collected,survey%20collects%20prices%20for%20rent.

BLS Detailed Description of each item in survey https://www.bls.gov/cpi/additional-resources/entry-level-item-descriptions.htm

Consumer Price Index: 2021 in review : The Economics Daily: U.S. Bureau of Labor Statistics
https://www.bls.gov/opub/ted/2022/consumer-price-index-2021-in-review.htm

Relative Importance of Components in the Consumer Price Index, 2020
https://www.bls.gov/cpi/tables/relative-importance/2020.htm
https://www.bls.gov/opub/hom/cpi/data.htm#:~:text=CPI%20price%20data%20are%20collected,survey%20collects%20prices%20for%20rent

CPI Handbook of Methods Appendix 2: Content of CPI Entry Level Items
https://www.bls.gov/cpi/additional-resources/entry-level-item-descriptions.htm

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Видео Are Inflation Numbers WRONG?! 🤨 канала Devin Carroll