Chained CPI: Do we need another voodoo number?

chained is the technical term used by economist to mean that an index number is corrected for inflation. you only use chained data when comparing index values from different years.

another measure that is often expressed in chained terms is the gross domestic product GDP. the GDP is computed in value of dollars at the time. if you really want to know how much the economy has grown (or not) over the years is to look at chained GDP. if you want to compare the current ratio of spending to GDP for example, then you would not used chained data, but use both in current dollars.

so there is a need for both measures, chained and not.

The whole point of moving to a chained CPI is to be more accurate.

All the methodology is published and the data is certainly not manipulated (by whom and how?)

Food and fuel are not factored into inflation. The published numbers are of course lies.

Obviously transparency is not the goal.

It a new game to cheat the elderly so the longer they live the poorer they'll be.