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Cake day: July 8th, 2023

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  • When they changed the CPI from a cost of goods index (COGI) To a cost of living index (COLI) it opened the doors to gaming the system and severely underreport the actual inflation rates.

    Allowing/claiming ‘substitutions’ where buyers would allegedly just buy cheaper/off-brand good as prices rise lets reporting steadily claim discounts that aren’t actually there for many applications, especially when the reality is many consumers are already buying those same discounted versions of goods which are also rising in prices.

    A COGI system on a specific fixed basket of goods shows the true increase in prices over time for those items, which is often a more accurate representation.

    Another driver for them to use a COLI system is that the reported inflation rate also drives changes to social security payments, which translates to less funds for their crony capitalism.