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bmitc | on: America has lost 200k of jobs in media, film and the arts. How much is AI?
How does inflation explain $5/gallon gas or $3,000 single bedroom apartment rent or $300 grocery bills for a few grocery bags or $50 to ship small packages or any other ridiculous cost increases we experience?
gruez | parent
Because "inflation" is a weighted average, and there's no law that says that every good/service in an economy must increase in price by the same amount?
bmitc | root | parent
Okay. If it's an accurate weighted average, what is decreasing in cost so much and weighted enough that it keeps the inflation percentage as low as it is normally presented?
gruez | root | parent
You really couldn't do that yourself? I linked the data tables with all the information you need. I get you might be lazy but that's hardly an excuse now that we have AI. Anyways I asked AI, here's what it calculated:

    Owners' equivalent rent of primary residence (sub6): score=-9.9748, rel_imp=24.937, yoy=3.3
    Health insurance (sub4): score=-10.3886, rel_imp=0.818, yoy=-9.0
    New vehicles (sub4): score=-11.6188, rel_imp=3.748, yoy=0.6
    Used cars and trucks (sub4): score=-13.9776, rel_imp=2.688, yoy=-1.5
    Motor vehicle insurance (sub4): score=-22.0197, rel_imp=2.531, yoy=-5.0
OER seems to be there not because it's dropping, but because its weight is huge, so if it grew even slightly slower than overall inflation it would be a significant drag. All the vehicle related stuff are probably related to the car market being crazy during the pandemic and then normalizing. No idea what's going on with health or even car insurance. Of course this is all 1 year's worth of data so oddities like this are expected You'd probably want to redo this with 5, 10, or 20 year data.
bmitc | root | parent
Well, I'm just waiting for these numbers to somehow reflect the reality everyone is feeling.