By SIMON CONSTABLE
As if we didn’t already know something was wrong with the government’s inflation data, now up pops what looks like a confession. It’s part of a broader issue with government metrics that one economist dubs “percentile dysfunction.”
New research shows there’s a problem in how the prescription drug portion of the consumer price index gets calculated. Another, perhaps more realistic, index of drug prices far outgrew the CPI's drug metric over a recent five-year sample period, with one part of the alternative metric increasing 59 percent more. Read more here.
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