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Comment by uup | Hacker News Reader

Yes, but that’s the OPs point. No one cares about the price of TVs. The metric (core inflation and CPI) isn’t measuring peoples experience accurately.

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When things like used cars were driving numbers people absolutely wanted to include those in the messaging. I saw zero inflation-bugs complaining that really we should be using food and energy only when those weren't the dominant forces.

> I saw zero inflation-bugs complaining that really we should be using food and energy only when those weren't the dominant forces.

Because it is never that clear cut.

If food goes up by 2%, gas/electricity by 3% and TV/video games/cars by 2.5% you can say inflation is ~3%

If food goes up by 30%, gas/electricity by 100% and TV/video games/cars by 2.5% saying inflation is 10% by using magic maths is bullshit

But what if food goes up by 2% and cars/lumber go up by 50%? In that case will you still exclude the cars and lumber?

Let's talk about that when it happens, I feel like it's not a very realistic scenario

Literally last fall.

Yes and yes. Lumber will come back around into people's expenses for shelter. Cars are harder to justify leaving out.

But these people are largely hired and paid for by the government. The government, who has to pay extra if inflation goes up (esp. in Europe). Obviously they have a preference for lower inflation.

(and frankly, to a small extent their argument is valid. If everyone switches from Coca-Cola to Pepsi, even if they do so because it's cheaper, then Coca-Cola has no place anymore in an inflation index. Prices are meant to affect buying behaviour and products must be allowed to replace each other)

> The metric (core inflation and CPI) isn’t measuring peoples experience accurately.

Yes; that's why the number in the headline is 10%, not the 5% core number.

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