Inflation Watch: Checking in on the Billion Prices Project

In the book Bailout Nation, there’s a whole section that explains how the Boskin Commission basically invalidated the CPI as a true measure of inflation.  Ever since I read it, CPI has become one of the chief Bête Noirs of this site – especially lately as the Commodity Olympics have gotten underway.

A Part Of NY has a post up that checks in on that Billion Prices Project – it’s basically a measure of inflation calculated by scouring online prices for 5 million products in 70 countries on a daily basis.   There are guys from MIT behind it, I’m pretty sure I had mentioned it once or twice here.

Anyway, here’s how the BPP sees inflation now versus the official Consumer Price Index:


Head over at the link below to learn more about how this is being calculated and what metrics are being used.

Source:

A Daily Anticipatory CPI (A Part Of NY)

Read Also:

Let the Corporate Hoarding of Commodities Commence!  (TRB)