Your personal purchasing power could be very different than the CPI. Also I think people put more importance on the basics like food and housing, those are surely 100% more expensive than 13 years ago. And with that going up you don’t really care that you can afford more t-shirts. But t-shirts are bringing down the CPI.
So yeah: lies, damn lies and statistics.
P.S. also fun at parties
Surely there is a standardized economic metric for consumer purchasing power strictly for necessities as well. I assume this, because economists throw the best parties.
Your personal purchasing power could be very different than the CPI. Also I think people put more importance on the basics like food and housing, those are surely 100% more expensive than 13 years ago. And with that going up you don’t really care that you can afford more t-shirts. But t-shirts are bringing down the CPI.
So yeah: lies, damn lies and statistics. P.S. also fun at parties
Surely there is a standardized economic metric for consumer purchasing power strictly for necessities as well. I assume this, because economists throw the best parties.