Food inflation is out of sight.
What’s with this hedonistic adjustment. At Costco, the bacon I buy is $15.00 per pound (cooked). Was $8.75 in 2009. That’s 13% per year. Now I must add bacon to the hedonistic list along with shellfish, label liquor, steak etc.?
What’s next? Butter, hamburger, deli meat?
To keep inflation looking low, we are asked to give up the stuff we enjoy. This cost is not mentioned.
The ultimate aim of hedonic adjustments is to have you eat sh*t and be glad you got it.
A quick thing to know. During Greece’s application process for the EU, they did the same inflation rigging to make their economy seem better. An examppe I saw was they arbitrarily added and removed products. If tomatoes went up, they dropped them from the calculations and added something else like pickles.