I don’t disagree with a lot you’re saying but there’s a reason economists use x to x comparisons and that’s because your best comparison for October 2023 is October 2022 not September 2023.
What you’re describing is where, and it sucks saying this because it’s cold AF, numbers don’t care about feelings.
The layman like you and I want to put our lives into context on the numbers we see because we are in the weeds. That’s fine and good and we are 100% valid in feeling the way we do but it doesn’t change the reality that the best comparison for October 2023 is October 2022.
Now again I’m a dumbass. There are plenty better than me at explaining this but as someone currently doing heavy data analysis on a P1 we had at work you do not compare the day of the failure with the previous day because they’re two different days of the week. Processes differ per day. If the issue happened on Thursday I want to compare it against previous Thursdays.
By this logic might as well take last month to compare because it’s even closer!
If you compare the same month because you expect it to be the same annual conditions then you can use the same month two years prior or three years prior… Will you look at that, that’s what I did! June to June, 15.33% over 4 years where you would have expected inflation to be 8.2% based on the BoC’s objective to have inflation at 2%.
I’m not saying year on year isn’t important to report, I’m saying they should report more than just that so people understand the difference and understand why 3% isn’t what they’re seeing.
Hell, did you know they also adjust the goods they use to compare so the 3% might be inside a basket of food but suddenly you’re not buying chicken, you’re buying tofu? Sure that’s what people do in reaction to inflation, it still gives a very skewed view of what the real inflation is. With a fixed basket of goods inflation was higher than 15% in the USA in 2022 and you know what’s funny? Anyone could have told you that the reported number made no sense when looking at the actual cost of living.
I’m still waiting on people “far smarter than you” to come and tell me I’m wrong to find it ridiculous that they only report year on year, funny they’re not here.#
The people far smarter than us are the ones that do month over month and not the way you want. I fail to see how you are smarter that legions of economists around the world.
Again, I get what you’re saying. For a layman like you and I it helps our emotions to do it a different way. What I keep stressing is that to those experts there is an intentional reason to not include emotion when analyzing numbers. If you do so you run the risk of making the wrong decisions.
You are free to continue screaming into the wind because the process is different than you would like. I’m simply telling you it isn’t. There are more than likely very VERY good reasons. Better to spend your energy on more productive things.
I don’t disagree with a lot you’re saying but there’s a reason economists use x to x comparisons and that’s because your best comparison for October 2023 is October 2022 not September 2023.
What you’re describing is where, and it sucks saying this because it’s cold AF, numbers don’t care about feelings.
The layman like you and I want to put our lives into context on the numbers we see because we are in the weeds. That’s fine and good and we are 100% valid in feeling the way we do but it doesn’t change the reality that the best comparison for October 2023 is October 2022.
Now again I’m a dumbass. There are plenty better than me at explaining this but as someone currently doing heavy data analysis on a P1 we had at work you do not compare the day of the failure with the previous day because they’re two different days of the week. Processes differ per day. If the issue happened on Thursday I want to compare it against previous Thursdays.
By this logic might as well take last month to compare because it’s even closer!
If you compare the same month because you expect it to be the same annual conditions then you can use the same month two years prior or three years prior… Will you look at that, that’s what I did! June to June, 15.33% over 4 years where you would have expected inflation to be 8.2% based on the BoC’s objective to have inflation at 2%.
I’m not saying year on year isn’t important to report, I’m saying they should report more than just that so people understand the difference and understand why 3% isn’t what they’re seeing.
Hell, did you know they also adjust the goods they use to compare so the 3% might be inside a basket of food but suddenly you’re not buying chicken, you’re buying tofu? Sure that’s what people do in reaction to inflation, it still gives a very skewed view of what the real inflation is. With a fixed basket of goods inflation was higher than 15% in the USA in 2022 and you know what’s funny? Anyone could have told you that the reported number made no sense when looking at the actual cost of living.
I’m still waiting on people “far smarter than you” to come and tell me I’m wrong to find it ridiculous that they only report year on year, funny they’re not here.#
The people far smarter than us are the ones that do month over month and not the way you want. I fail to see how you are smarter that legions of economists around the world.
Again, I get what you’re saying. For a layman like you and I it helps our emotions to do it a different way. What I keep stressing is that to those experts there is an intentional reason to not include emotion when analyzing numbers. If you do so you run the risk of making the wrong decisions.
You are free to continue screaming into the wind because the process is different than you would like. I’m simply telling you it isn’t. There are more than likely very VERY good reasons. Better to spend your energy on more productive things.