this post was submitted on 17 Mar 2024
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That's kinda why I suggested the average rent as an index, since unless we do some Nordic style price adjustment control that limits how much prices can go up in a year or such, that will probably be the best indicator of the actual inflation that the average consumer is experiencing in any given year.
(use median rent rather than average rent)
How about whichever is higher? I feel like circumstances could lead to either causing wages to be lower than they would be if pegged to the other instead.
If some clown wants to charge $3B for rent in a hovel in the backstreets of Idaho, mean rent might not make a lot of sense.