You are frankly wrong about no changes in methodology
Posted on: December 27, 2016 at 10:55:34 CT
ummmm MU
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Here are the three biggest ones, though changes are still made in order to continue under reporting inflation (read: incentive to do so in order to stiff social security recipients on their COLAs):
1. In 1983, housing prices were removed and “owner’s equivalent rent” was used instead.
2. In 1998, Hedonics was introduced to estimate a product’s value as technology advances.
3. In 1999, the idea of product substitutions was introduced to the index.