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In 1996 the US changed its method for calculating inflation. Details here:

Nouriel Roubini: Output and Inflation: Are We Mismeasuring Them? The "CPI Inflation" and "Chain-Weight GDP" Debates

In December 1995, the U.S. moved to a new system of measuring GDP and the GDP deflator: from a fixed-weight method to a chain-weight method.

The problem with the traditional (fixed-weight) method of measuring output was that too much weight was given to production of the goods (such as computer and microchips) whose price has fallen over time.

by TGeraghty on Thu Oct 11th, 2007 at 02:00:03 AM EST

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