Inflation in Zimbabwe Jumps 9,000,000% in June to 11,250,000%

So now inflation rate is being quoted to 4 sig figs - PER DAY !!

Isn't this [roughly] where the thread started?

At 12:05, "PeterSaxton" wrote

Four minutes earlier at 12:01, "PeterSaxton" wrote

Peter, did you *really* know whether my comment was deliberately wrong?

If you *didn't* know, then why did you say it *was* a lie?

But if you *did* know, then you will have known that it wasn't deliberately wrong, and so *your* comment was therefore a lie (you deliberately said I lied, when you knew that I didn't).

So - which is it? Are you a liar, or do you just state things as the truth when you actually have no idea whether it's correct or not?

Sometimes you lie and sometimes you are simply wrong. You ALWAY want to have an argument. Get you thrills somewhere else.

"PeterSaxton" wrote

Now that's a lie ... or maybe it's just 'wrong'?!

Peter, I strongly suspect that you had no idea whether my comment was deliberately wrong or not, and so you probably didn't 'lie' when you wrote "Now that is a lie" above -- you were just mistaken, and got it wrong.

So - how often *do* you get things wrong?

Swaps traders.

Hee hee. I agree you've identified a category of muppet, but (and assuming I'm not taking your reply too seriously....

Even for swap traders, I assume inflation is price change related to time period. As a change in the 8th sig fig corresponds to one second in 3 years, it seems an extremely unlikely and totally meaningless degree of precision.

As for "price", the 8th sig fig represents such a disappearingly minute part of a barrel of oil that even the NPL would be hard pressed to measure it before it evaporated !!

"Martin" wrote

Ah, but what if each of 'time' & 'price' have 4 sig figs?

If you are looking at deals with notionals of many billions you get real differences. It makes it much harder to reconcile figures if someone decides it is ok to arbitrarily round the figures.