The BLS’ Hedonic Quality Adjustment (HQA) Scam: How A 400% TV Price Increase Becomes A 7% Decline

Reposted From The Consumer Price Illusion Have you heard the one about CPI? Suppose that a TV manufacturer retires a product and replaces it with a newer, better, and much more expensive one. If the new TV costs 5 times more than the old one, how can we massage the price of the old TV […]