This strikes me as lazy data science and full of overreaching conclusions, because nowhere is uncertainty/spread/variance discussed. What are the errors/variance on these estimations for each year and each spending category? Are these inflation differences statistically significantly different? Comparing 7% vs 8% is already cutting it close without even knowing this crucial information. The headline vastly oversteps the analysis itself, there is simply not enough information presented to make these conclusions.
This is one reason why peer-review is essential. This author can throw out a claim like millenials get inflation 14% worse than everyone else, failing to mention it's a difference of 1% over 7-8%, and moreover he did not even look at variance or statistical significance. This would not pass muster in a statistics 101 course, never mind a reputable journal.
This is one reason why peer-review is essential. This author can throw out a claim like millenials get inflation 14% worse than everyone else, failing to mention it's a difference of 1% over 7-8%, and moreover he did not even look at variance or statistical significance. This would not pass muster in a statistics 101 course, never mind a reputable journal.