Do We Need Google To Measure Inflation?
Economists are creating new methods for tracking prices.
Ultimately, there is a good argument for more inflation measures, not just better or newer ones. The government already calculates a number of rates of inflation to give a fuller picture of price changes, the value of money, and the economy. Most notably, the BLS publishes a "core inflation" number, a measure of inflation outside volatile food and energy prices. There are dozens of other measures, as well. The new Web-based yardsticks provide even more alternatives and opportunities to examine the accuracy of the CPI—and to make new findings. That means, for now, those detective-like government rubes painstakingly checking prices on clipboards get to stay in work.
Steve Jobs’ Dream Device Has Arrived, and It's Made by Microsoft
Texas Judge Blocks Lesbian Couple From Living Together
Tornado Survivor Finds Her Missing Dog in the Rubble of Her Home During a TV Interview
Annie Lowrey, formerly Slate’s Moneybox columnist, is economic policy reporter for the New York Times.
Photograph by Jupiterimages/ Getty Images.