The independent inflation index Truflation has announced the release of its groundbreaking Dashboard 2.0. The new dashboard adds independent data weights (consumer expenditure data) to Truflation’s index to decouple from the government’s consumer price index (CPI).
The goal of this major update by Truflation is to drastically improve inflation data that is offered by the government’s CPI and revise the weightages of each category within the index to more accurately reflect market prices and consumer expenditures in different cost areas. The new data takes Truflation away from the current CPI model that uses 6 primary categories and introduces a new model which expands the index into 12 key pillars. Breaking up the major categories gives Truflation users access to better and deeper data insights in a more comprehensive set of spending categories. These unique categories will be released as independent price indices on the blockchain.
“This update is a huge leap for Truflation. Our goal is to provide the best economic insights to the world. With independent demographic data, we can obtain a direct and accurate view into what households actually spend money on, and we can measure inflation more accurately. We can also expedite our expansion to Europe and South America,” said Stefan Rust, Founder of Truflation.
Rust is a former CEO of Bitcoin.com and has put together a stellar team with 50+ years of cumulative experience in data science and the development of data products.
The team recently acquired and implemented highly granular, global household expenditure data which the platform uses to build the Truflation index of what households actually buy and spend money on during the year. The system can update data weights in real time to reflect accurate and current inflation figures in different geographic areas across all 12 of the platform’s price categories.
Truflation’s indices are also easier to scale across different countries using the same…