Thursday, 27 January 2022
Wednesday, 26 January 2022
In today's news, the UK's unofficial arbiter of all things statistical, 'More or Less' on BBCR4, has had a look at Jack Monroe's strong criticism of the Consumer Prices Index (CPI). For those who've missed this, they argue that it massively underestimates the inflation felt by the poorest consumers, because the cheapest essentials rise in price by a greater percentage.
Short answer: They're right, and the Office of National Statistics admit it.
The programme also mentions their proposed new measure, the Vimes Boot Index.
The whole programme is worth a listen. It includes the usual calling out of pernicious Covid myths, as well as a debunking of the 'five second rule' for dropped food.