Some of you may already know I intend to conduct an inflatiton study on WP and crunch some numbers over inflation - in particular apples. At least, it'll give us a physical measure of what apple prices will be doing once I get it rolling.
That being said, there's a couple of steps before calculating a inflation percentage. (No, it is not as simple as taking this week's number and dividing it by last week's number.) I've gone through most of it but then currently I believe I need public opinion over one key point. (And one minor one.)
To calculate Consumer's Price Index (which is the final step before inflation), I need a "base price" where inflation equals 0%. Now there are a few options for me to go about this;
- Set the current price (1350 mush / apple)
- Set a historical price ( x mush / apple) where we can all agree that inflation = 0%. After all, inflation in reality is definitely not 0 right now
That's the main gist of the question.
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Also just an extra tidbit for anyone else interested;
I'll also be measuring overall inflation through five key items in the WP economy (besides apples, which get their own seperate category);
- Jasmine
- Robin Feather
- Blue Jay Feather
- Toucan Feather
- Bald Eagle Feather
Needless to say, apple prices will overall have a greater proportional impactt on my overall calculation. However, if anyone's interested, is there any key items in WP's economy that you believe (that are valued above 1 mush) that should be added as a measure of inflation? Comment below if you think of one I've missed, or dispute one of the items. It's still open for revision after all ^^