Why do the “official” numbers on food inflation state it’s gone up by tiny amounts like 8%, 19%, 11%, etc. but most of the foods I see has gone up by a minimum of 50%, 100%, 80%?

Question

Why do the “official” numbers on food inflation state it’s gone up by tiny amounts like 8%, 19%, 11%, etc. but most of the foods I see has gone up by a minimum of 50%, 100%, 80%?

In: Economics

Answer 1

I have no clue if it’s true but I’ve heard the numbers are being deliberately misrepresented because it’s an election year. Same with Jobs numbers and crime statistics. No idea if it’s true but it wouldn’t shock me if it was.