/biz/ - Business & Finance

>>53249149
Remember how everyone switched to goods-heavy spending during 2020 and 2021? But we're back to a more normal amount of service consumption as of 2022?

For 2023, the weightings will be based only on that normal, services-heavy year rather than mixing it with goods-heavy 2021. Since services are proving stickier than goods. the net effect may actually be to bump *up* CPI.

Sauce: https://www.bls.gov/cpi/

>>53250766
>Lol wtf how can you calculate inflation using one year of data?
??? You can have a BLS wagie collect price information every month, that's instant. What you don't have immediately is an idea of how much of various shit your average consumer has bought.

So for example we know egg prices are up 300% this month, but I think we'd all estimate that in 2021 eggs were only 10% of average spending and that climbed moderately to 30% in 2022. We won't know how much of people's budgets are going to eggs in 2023 for some time.

So should we assume, for now, the 300% increase applies to 20% of spending (the average of the past two years) or 30% of spending (weighting based on one year)?