AFM Inflation Project

Tell me, what do you guys think about starting an inflation project?

Here’s what I have in mind:

Readers from different parts of the country (North East, East, South East, North Central, Central, South Central, North West, West, and South West) track a small number of goods (mostly grocery items) and report the numbers to me and I’ll put them in a spreadsheet for everyone to see.

Why would we do this?

Because I think the government’s numbers are fiction.

So, what do you think? Interested?

10 thoughts on “AFM Inflation Project”

  1. I like the idea. I think the items that get excluded from the government calculations are selected to give the most stable index possible.

  2. Have you heard of the “Billion Prices Project @ MIT”? They do this already, with automation, and they haven’t found any glaring deceit in the BLS numbers.

    Or go to PriceStats dot com, who has uncovered manipulation in government statistics in Argentina — but not the US. PriceStats provides their data for free (with a 10-day lag) — if you want the latest info, then you need to pay for that privilege.

  3. There is huge variation from store to store and gas station to gas station. I guess as long as you use the same establishments it would work. I live in the Baltimore region and am willing to provide some numbers.

    I usually buy things when they are on sale, so everyday prices don’t have a large impact on me.

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