Inflation and Statistics: Economics Explains Them, Not the Other Way Around

08/05/2026 Per Bylund

Statistics can be interesting and informative, but only if one can properly understand them through sound economic theory.

Original article: https://mises.org/mises-wire/inflation-and-statistics-economics-explains-them-not-other-way-around

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

Become a Member

Get Your August Rothbard Giveaway Book! The Case for a 100 Percent Gold Dollar

Inflation and Statistics: Economics Explains Them, Not the Other Way Around