Do all nations measure inflation the same way? It would seem the same "basket" of goods might perform differently in different cultures. Curious how the data is collected so that we know we're comparing apples to apples.
Trading Economics provides its users with accurate information for 196 countries including historical data and forecasts for more than 20 million economic indicators, exchange rates, stock market indexes, government bond yields and commodity prices. Our data is based on official sources, not third party data providers, and our facts are regularly checked for inconsistencies.
It may be a very tricky data set when trying to normalize across cultures. I was shocked by the problems the world has had accounting for what is a "COVID death".... something you'd think would be pretty easy to count... yet it's not... apparently. Deciding what constitutes a "normal" basket of goods to measure CPI across cultures seems even more challenging.
Do all nations measure inflation the same way? It would seem the same "basket" of goods might perform differently in different cultures. Curious how the data is collected so that we know we're comparing apples to apples.
Best I can find from the source on where they get their data:
Trading Economics provides its users with accurate information for 196 countries including historical data and forecasts for more than 20 million economic indicators, exchange rates, stock market indexes, government bond yields and commodity prices. Our data is based on official sources, not third party data providers, and our facts are regularly checked for inconsistencies.
It may be a very tricky data set when trying to normalize across cultures. I was shocked by the problems the world has had accounting for what is a "COVID death".... something you'd think would be pretty easy to count... yet it's not... apparently. Deciding what constitutes a "normal" basket of goods to measure CPI across cultures seems even more challenging.