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The Hocus-Pocus of CPI Calculation

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Zero Hedge explains the scam that is Hedonic Quality Adjustments wherein the Bureau of Labor Statistics manipulates price data so that  large increases in the actual prices of certain products can be transformed into decreasing prices when calculating the Consumer Price Index.

Joseph Salerno is academic vice president of the Mises Institute, professor emeritus of economics at Pace University, and editor of the Quarterly Journal of Austrian Economics.

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