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The Pomp Podcast
#1276 Oliver Rust | Here Is Proof That Inflation Data Is Wrong...
Nov 28, 2023
Oliver Rust,Head of Product at Truflation, talks about outdated methods used to calculate CPI, Truflation's new data collection, and how good data could improve the Fed's decision-making process. Truflation believes inflation will be sticky in 2024 and shares its vision of success.
32:42
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Quick takeaways
- Trueflation's alternative data set and methodology provide a more comprehensive and accurate inflation measurement, challenging the current Consumer Price Index (CPI) and highlighting the need for modernization.
- Trueflation's robust and frequent data can lead to better forecastability and market outlook, with implications for decision-making by institutions like the Federal Reserve and various market participants.
Deep dives
Challenges with CPI and Inflation Calculation
The podcast episode discusses the challenges with the current Consumer Price Index (CPI) and the methodology used to calculate inflation. It highlights the limitations of the Bureau of Labor Statistics (BLS) data collection and the need for modernization. The episode explores Trueflation's approach to collecting data from various sources and aggregating it into 12 product categories. The focus is on analyzing the frequency and volume of data to provide a more comprehensive and accurate inflation measurement.
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