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- The quality of US economic data is deteriorating
The quality of US economic data is deteriorating
Inflation data is becoming a guesstimate.
Global Markets Investor
July 31, 2025
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The Bureau of Labor Statistics (BLS) collects ~90,000 price quotes each month across 200 product and service categories to calculate CPI. There are hundreds of field collectors tracking these prices in 75 urban areas nationwide. However, when price data is unavailable, BLS uses estimates, and normally ~10% of prices are estimated when data is missing.
Most recently this share jumped to ~35% meaning over a third price quotes in the CPI Inflation index are MADE UP, based on assumptions, not real prices.
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To put this differently, US inflation data is becoming a guesstimate. This is obviously less reliable than data-driven estimates.
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