How Much Is Inflation Slowing Down, Really?
The main indexes attempt to capture a realistic picture of the overall cost of living, but there’s plenty of room for argument over how different goods and services are weighted, and the way a few big outliers can distort the biggerpicture.
Statisticians, therefore, tend to be more interested in measures such as the trimmed mean (in which the biggest outliers in either direction are stripped out and an average taken of the rest) and the median.
The Federal Reserve Bank of Cleveland produces calculations for both, and they tell a disquieting story.
John Authers Bloomberg 15 februari 2023
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