{"id":263930,"date":"2024-11-05T22:50:57","date_gmt":"2024-11-05T22:50:57","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/11\/05\/everyday-price-inflation-at-0-3-y-y\/"},"modified":"2025-06-25T17:10:36","modified_gmt":"2025-06-25T17:10:36","slug":"everyday-price-inflation-at-0-3-y-y","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/11\/05\/everyday-price-inflation-at-0-3-y-y\/","title":{"rendered":"Everyday Price Inflation at 0.3% y\/y?"},"content":{"rendered":"

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Versus 2.4% for the CPI (in logs). Lots of people think the government\u2019s statistics understates the true inflation rate. It used to be John Williamson at ShadowStats. Now it\u2019s EJ Antoni at Heritage Foundation (who touts the use of Primerica\u2019s everyday price index). But the American Institute for Economic Research\u2019s \u201cEveryday Price Index\u201d (EPI) says otherwise (over the past year and a half).<\/p>\n

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Figure 1:<\/strong> CPI (blue), chained CPI (red), HICP (purple), EPI (green), Truflation (light blue), all not seasonally adjusted, and PCE deflator \u2013 market facing, seasonally adjusted (pink), all in logs 2023M03=0. Truflation index measured at last day of month. Source: BLS, European Commission via FRED, Truflation<\/a>, AIER<\/a>.\u00a0<\/em><\/p>\n

AIER\u2019s EPI tries to tabulate<\/a>, like it says, every day expenses, taking out prices of those goods and services that are postponable. Truflation taps into big data to produce high frequency estimates of the cost of living (documentation here<\/a>).<\/p>\n

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