The Fallacy of “Measuring” Inflation

Tags: Praxeology, Inflation, Monetary Policy

07/09/2025 Patrick Carroll

While we often speak of measurements of inflation (such as “inflation went up by three percent”), in reality, one cannot accurately measure it, given official measurements consist of arbitrary weighted averages. It is better to see inflation as qualitative, not quantitative.

Original article: https://mises.org/mises-wire/fallacy-measuring-inflation

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