Chained CPI

[Abby Normal]

Quote

The C-CPI-U is calculated in much the same way as the CPI, but rather than simply accounting for the impact of inflation on the price of goods, it also accounts for consumers’ diminished capacity to achieve the same standard of living due to the increase in the price of consumer goods (BLS Handbook of Methods, Chapter 17 (6/2015)). The effect is that adjustments for inflation will be smaller.

Emphasis mine. So, since some of us will be so poor we can't even buy the goods, that inflation doesn't count. Happy new year?

I have a different vision of 'chained' in my head than they probably intended.

[easytax]

I am confused..  Is the C-CPI-U different from Chained CPI?   Reason I am asking, there (to me) is a big difference "

50 minutes ago, Abby Normal said:

diminished capacity to achieve the same standard of living due to the increase in the price of consumer goods

and what I understood Chained CPI to be - people make changes to their way of buying (find lessor expensive things/ways/etc.) to still have basically the same things purchased //// BUT  not a lessor standard of living.        Which always had me wondering anyway how :old people" like me might change my limited purchasing when I am almost already at the full extent of buying the lowest I can find (I AM CHEAP).

[Abby Normal]

U stands for urban, which probably has lower prices than the boonies. Paging /user/RitaB.

[jklcpa]

This WaPo article article explains the differences it pretty well, better than I ever could. 

[RitaB]

15 hours ago, Abby Normal said:

U stands for urban, which probably has lower prices than the boonies. Paging /user/RitaB.

Sorry, can't help with this as I only shop in the boonies.  I will say this:  Yesterday at Walmart, my cheese about slid off my cracker waiting on people to pick a lane and /or stop discussing the pros and cons of a grocery item.  Please.  This is America, drive on the right.   Couples standing around arguing, stand around arguing on the right.  You can't have both lanes.  I was kinda mad, but it's Christmas.

[Catherine]

@RitaB - do we need to ask where the red stripes on your weapon originated?  Or if you have hugged anyone lately?