Truflation Boosts US Inflation Data with Six New Providers
HONG KONG, Monday, NOVEMBER 13, 2023 – Truflation, the independent and unbiased provider of verifiable economic data, has added 500,000+ new monthly data points to its real-time US CPI inflation index through the integration of six new data providers. This product upgrade provides additional granularity to Truflation’s US inflation data, which already tracks more than 13 million data points to deliver the most accurate measurement of US prices daily.
Among the six new data providers joining Truflation’s already comprehensive list are Hyatt and Hilton hotels, Trivago, and marketing data provider GfK. The additional data points will affect multiple categories in the US index, including housing, recreation and culture, food, utilities, and transportation.
Truflation has used the input from these additional sources to revise its historical data so its current figures, publicly available on truflation.com, reflect this product upgrade. As of November 7, 2023, the aggregate impact of this new information on Truflation’s US CPI index over three years amounts to an increase of just 0.11%, which highlights the underlying accuracy of Truflation’s data.
Stefan Rust, CEO of Truflation, says: “The addition of six new data sources enhances the breadth of our data and provides extra granularity to our already comprehensive US CPI measurement. It is our mission to publish the most accurate, real-time inflation index that anyone can access to inform their investment and savings decisions.
“We are pleased to report that, with the addition of these new sources, our recently launched aggregate US CPI index has only seen a marginal change of 0.11% over three years. This highlights the reliability and stability of our methodology.”
This product upgrade follows the launch of Truflation’s live data streams for the housing, labor, and transportation categories, which provide detailed insights into the real-time effect of various factors and price movements affecting these key sectors.
Truflation is also currently developing proprietary indices that will be available to subscribers of Truflation Premium and Enterprise: its premium data services. The firm has already developed a US Consumer Confidence Index, which it uses to inform its US inflation predictions, and is working on a US Employment Index with the aim of eliminating the lag inherent in government-reported data.
Truflation is a pioneer in the economic data field, providing a fully independent source of truth for inflation data in both the US and the UK. Compiled using millions of data points aggregated in real-time, Truflation provides a pinpoint accurate alternative to the slower, less comprehensive data collection methods employed by official data agencies.