During the Covid19 pandemic, a columnist at the Wall Street Journal observed that the gap between everyday
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During the Covid–19 pandemic, a columnist at the Wall Street Journal observed that “the gap between everyday experience and the yearly inflation rate [as calculated by the BLS] is massive. The price of the stuff we’re buying is rising much faster, while the stuff we’re no longer buying has been falling, but still counts for the figures.” Was the BLS aware of this problem? If so, why didn’t it correct the CPI to account for the problem?
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