It took the BLS about 15 years to include cell phones in the CPI basket after their introduction, and historically most goods (electric refrigerators, used cars) were included only long after the majority of people owned them; because new goods often fall dramatically in price, leaving them out misses a large component of real price decline.

factualpending

Speaker

Bruce Meyer

Evidence Quote

it took the BLS 15 years to include cell phones after they were introduced

Source

Bruce Meyer on the Middle Class, Poverty, and Inequality 10/03/2011EconTalk
Created: 6/15/2026, 9:20:26 AM

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