With 12 key price metrics, Truflation’s revamped Dashboard 2.0 independently and accurately assesses real-time inflation rates

Truflation’s newly revamped dashboard provides data on 12 key cost categories to more accurately measure inflation rates compared to many government consumer price indicators

Truflation, a decentralized blockchain-based inflation index initiative, has announced the release of a new and redesigned user interface for its dashboard, complete with a new set of features, functions and capabilities. This new “Dashboard 2.0” overhauls the six default expense categories used by many official government consumer price indices (CPIs) and also adds six new categories, bringing the total number of expense categories covered by the platform to 12.

With this new update, Truflation hopes to significantly improve the accuracy and relevance of inflation data available to private and public markets and enterprises. Truflation has also revised the respective weights of each cost category to more accurately reflect the changing tastes, trends and macroeconomic movements that influence consumer spending behavior.

The release of Dashboard 2.0 is a major development that takes Truflation away from the current CPI model that uses only six cost categories to cover all areas of consumer spending. By breaking down these key cost categories, revising the weights of each, and adding new categories relevant to today’s consumers, Truflation hopes to provide users with better and deeper data insights, more comprehensive and accurate breakdowns of price changes, and independent reviews. of price action in the categories that matter most to people and businesses – all securely and transparently stored and made available to users via the blockchain.

Stefan Rust, the founder of Truflation, commented on the new update saying: “The release of Dashboard 2.0 will be a huge leap forward for Truflation. Our goal is to provide users around the world with the best possible economic insights. With independent demographics, more relevant cost categories and real-time data feeds from a wide range of trusted providers, we can provide immediate and accurate information about what households are actually spending money on. We can also measure inflation more accurately. This information can then be used for everything from procurement to supply chain optimization to resource planning, marketing, pricing and more. We are excited about expanding into new markets and offering this value-added service to people and companies operating in a wide variety of different industries.”

Mr. Rust is a former CEO of Bitcoin.com and has an exceptionally talented team with over five decades of data science experience working on Truflation. The team recently collected a huge amount of data on global household spending data. This data will be used to build the Truflation Index of what households actually buy and spend throughout the year. Because Truflation can update data weights in real time based on newer data, it can accurately calculate inflation rates for different geographies and provide a deeper understanding of the 12 major cost categories of consumer spending.

Thanks to standardization and seamless integration with data feeds, Truflation’s indexes can be easily scaled and deployed across different countries, markets and geographies using the same reliable methodology. Cost categories and basket weights can also be adjusted and updated over time to improve both the accuracy of the results and comparability across regions and time periods. This level of flexibility and relevance contrasts with many current systems that use non-standard approaches to calculating inflation rates, making comparisons and analyzes more difficult to perform.

Today, Truflation uses consumer data for multiple household income levels and uses censuses, mini-censuses, and consumer and merchant surveys for pricing information, making Truflation’s empirical data not only very detailed, but also very comprehensive.

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