Note: The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here, reflects the CPI as if it were calculated using the methodologies in place in 1980. Further background on the Alternate CPI and Ongoing M3 series is available in the Archives in the August 2006 SGS newsletter.
Overall inflation is not even close to 10% and anyone who thinks so is a baffoon. If it was, sales everywhere would be up YoY of at least that amount. Right now very few retailers are over even 3-4% gain.
That's what Williams says, but he won't part with the numbers unless you send him $90, and he won't show his calculations at any price. My guess is that he doesn't have calculations, he fudged everything.
Fudging is easy --anyone can do it, even Williams; coming up with something that's useful is hard. There're lots of way's of calculating inflation; if you want to know how prices for urban consumers are going then the CPI works fine. If you're looking at everyone else's buying too then you want the PCE. It goes on and on. The thing with Williams' $90 wonder is what good is it? It won't help you plan costs for hiring new workers like the ECI will, it won't tell you what last quarter's change in the gdp is like the gdp-deflator will. It's useless other then for whining and complaining.