alt Hacker NewsIt's using a fixed value of goods and measuring the price of that basket to measure the value of a dollar.
The price of a dollar is one dollar. That's a useless statistic.
It's using a fixed value of goods and measuring the price of that basket to measure the value of a dollar.
The price of a dollar is one dollar. That's a useless statistic.
> It's using a fixed value of goods
The CPI basket is definitely not fixed. It is constantly evolving to ensure that the metric is useful. Consumption habits are not fixed.
> The price of a dollar is one dollar.
Technically true, just like the price of one iPhone is the price of one iPhone (assuming equivalent specs), but in the real world price is used to compare the value of different things. Currently, the price of an iPhone 17 Pro is 238 bushels of corn.