Reply to post: Re: PUB Underflated Inflation ALERT

Apple hardware priced so high that no one wants to buy it? It's 1983 all over again

ThomH Silver badge

Re: PUB Underflated Inflation ALERT

In 1983 a loaf of bread cost about $0.65. Nowadays it costs around $2.40. A stamp cost $0.20, it's now $0.55. A gallon of milk has risen from around $1.90 to $3.80.

Let's be absolutely clear about this: ShadowStats alleges large-scale international governmental data manipulation. It's basically climate change denial for economists.

Due to its frequent citing by Fox News et al for a period, the Bureau of Labor Statistics has taken the time to lay out its methodology at length, and debunk many of the specific allegations made by ShadowStats, such as that they substituted hamburgers for steaks in the inflation basket (spoiler: they didn't).

So it's up to you: have all the governments joined in a massive conspiracy so that inflation since 1983 has been around 1370% but, ummm, bread, milk and stamps have somehow only gone up by an average of around 250%, or is the US government, along with those other governments that track the US economy, right to say that inflation has been about 250%?

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