Quote:
Originally Posted by IamIan
Just a historic tibit I found a little interesting.
US Gasoline Price .. 1950 to 2010 ..
Pump $ Price at that time.
The 2012 $ inflation adjusted price.
The 60 year average of that 2012 $ inflation adjusted price.
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Interesting, but I'm not sure how valid the numbers are.
"inflation adjusting" is typically based off the Consumer Price Index (CPI). The CPI leaves off large segments of the economy, so it's a little off anyways, but one of those segments is energy, which includes gasoline.
So, using an Index that ignores gasoline to adjust the price of gasoline is inherently flawed IMO.