E-Commerce sales have risen rapidly over the past decade. Online prices are falling – absolutely & relative to – traditional inflation measures like the CPI. Inflation online is, literally, 200 basis points lower per year than what the CPI has been showing. To better understand the economy going forward, we will need to find better ways to measure prices & inflation. - Austan Goolsbee, Professor of Economics, University of Chicago Booth School of Business, 5/18 111