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To: Wyatt's Torch
I’m sure you have seen the “up huge this year” charts

No WT, just anecdotal personal experience. Another thing I have notices is that manufactures are hiding the inflationary issue by shrinking packages. I wonder how that factors into apples to apples comparisons when it comes to inflation data.

47 posted on 05/29/2014 10:37:06 AM PDT by catfish1957 (Face it!!!! The government in DC is full of treasonous bastards)
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To: catfish1957
From the FAQ's

How are CPI prices collected and reviewed?

Each month, BLS data collectors called economic assistants visit or call thousands of retail stores, service establishments, rental units, and doctors' offices, all over the United States, to obtain information on the prices of the thousands of items used to track and measure price changes in the CPI. These economic assistants record the prices of about 80,000 items each month, representing a scientifically selected sample of the prices paid by consumers for goods and services purchased.

During each call or visit, the economic assistant collects price data on a specific good or service that was precisely defined during an earlier visit. If the selected item is available, the economic assistant records its price. If the selected item is no longer available, or if there have been changes in the quality or quantity (for example, eggs sold in packages of ten when they previously were sold by the dozen) of the good or service since the last time prices were collected, the economic assistant selects a new item or records the quality change in the current item.

The recorded information is sent to the national office of BLS, where commodity specialists who have detailed knowledge about the particular goods or services priced review the data. These specialists check the data for accuracy and consistency and make any necessary corrections or adjustments, which can range from an adjustment for a change in the size or quantity of a packaged item to more complex adjustments based upon statistical analysis of the value of an item's features or quality. Thus, commodity specialists strive to prevent changes in the quality of items from affecting the CPI's measurement of price change.

48 posted on 05/29/2014 10:44:02 AM PDT by Wyatt's Torch
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