Truflation launched Dashboard 2.0 on June 6, expanding the index from the conventional six CPI categories to a dozen.
What Happened: Truflation, a leading independent inflation index, launched Dashboard 2.0, updating the allocation and significance of data categories, while increasing the cost categories from six to 12.
Another key innovation in Truflation's data analytics is their shift from the standard government consumer price index (CPI) to independent data weights, of consumer expenditure data.
Further shedding light on critical sets of spending categories, Truflation looks to present insightful independent price indices upon the blockchain. As Truflation Founder Stefan Rust told Benzinga, "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 of what households actually spend money on, and we can measure inflation more accurately."
"We can also expedite our expansion to Europe and South America," he added.
With higher margins for comparability, Truflation's new on-chain indices make room for scalability across different countries via the same data methodology.
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Why it's Important: In inflationary economic conditions, measuring household incomes, cost categories, consumer expenditure data, and other data points is crucial to understanding macroeconomic climates.
By shifting from the traditional governmental CPI model to a more encompassing set of 12 categories, Truflation's Dashboard 2.0 offers deeper insight into national and global financial markets, in the form of on-chain price indices to boost the growth of blockchain products.
The present computational model lacks comparability and the ability to standardize the analysis of data trends across countries. This obstructs the flow of accurate data on consumer welfare, prices, cost, and inflation. Therefore, the newly created Dashboard 2.0 is pivotal in its comprehensive depiction of macroeconomic trends, via on-chain price indices.
What's Next: As Truflation looks to expand across nations, their model will further venture into global markets, across South America and Europe. The company hopes to usher in the new generation of blockchain products and capture macroeconomic trends more effectively.
