But in many countries, ordinary folk as well as investment analysts suspect that governments are fiddling the figures for political reasons, and that the true inflation rate is much higher than officially reported.
然而,在某些国家,民间人士和投资分析家有所质疑,他们怀疑政府由于政治因素“人为减少”通胀指数,而实际上的通胀率却远远高于官方发布的数据。
一点异议:
in many countries 在很多国家
ordinary folks 公众
governments are fiddling the figures for political reasons 政府出于政治考虑操纵通胀数据
One reason why the Chinese may think their cost of living is rising so quickly is that consumers are moving upmarket—for example, from the local dumpling stand to a restaurant.
为什么中国政府应反思本国的生活成本会攀升得如此快,其中一个原因是消费者向高端消费阶层迈进。我们以当地的一家饺子店为例,一家人去这家店消费
According to the government, consumer prices rose by 10.9% in the year to December
根据政府的数据显示,去年12月,阿根廷的物价上升至10.9%。
---》去年12月,阿根廷物价同比上涨10.9%
Economists disagree on the best way to measure consumer-price inflation.
另外,经济学家不同意这种衡量消费物价通胀的最好方法。
---》经济学家对什么事衡量消费物价通胀的最好方法意见不一
Consisting of food, materials, wages and rent, the McDonald’s Big Mac offers a handy consumer-price basket, whose composition has hardly changed over time.
麦当劳的巨无霸指数由食物、材料、工资和租金组成,能给出一个方便的消费价格指数(指数的成份不会因时间的推移而改变)。
---》麦当劳巨无霸汉堡的价格包含了食品、原料、工资和租金,提供了一个方便的消费物价篮子,。。。。。
We have compared prices late last year with those ten years earlier in a selection of countries. For example, the price of a Big Mac in China rose by an annual average of 3.7%, against the reported inflation rate of 2.3%.
我们选取了十个国家,对他们十个月和去年年末的价格进行了对比。例如,中国的巨无霸物价指数上升到3.7%,达到去年的平均值,而不是官方公布2.3%的通胀率。
---》选取了一些国家,把去年年末的物价和十年前比较。后面说中国十年来的巨无霸价格年均涨幅是3.7%,通胀数字2.3%。
However, burgernomics does support claims that Argentina’s government is cooking the books.
尽管如此,汉堡经济学证明这一事实:阿根廷政府在做假账。
---》观点
INFLATION is creeping up around the globe. But in many countries, ordinary folk as well as investment analysts suspect that governments are fiddling the figures for political reasons, and that the true inflation rate is much higher than officially reported. Argentina’s inflation rate is the hardest to swallow. According to the government, consumer prices rose by 10.9% in the year to December, but private-sector economists estimate the true increase to be at least twice as much. In China, too, many claim that the government’s figures hugely understate increases in the cost of living. 原译: 通胀在全球范围内不断加剧。然而,在许多国家,民间人士和投资分析家有所质疑,他们怀疑政府出于政治考虑控制通胀数据,而实际上的通胀率却远远高于官方发布的数据。阿根廷的通胀率最难让人接受。根据政府的数据显示,去年12月,阿根廷的物价同比上涨了10.9%。但是,私营机构的经济学家估计,阿根廷国内的真实物价指数至少是发布数据的两倍。同样,中国也出现如此状况。许多人士表示,中国政府公布的资料大大压低了生活成本的增长数据。
评论: fiddle 篡改, 做手脚
the hardest to swallow 最难让人轻易相信。
many claim 许多人坚称,咸信, 主张、力言
the government’s figures hugely understate increases in the cost of living. 政府的数字大大地低估了生活成本的增长。
Economists disagree on the best way to measure consumer-price inflation. How often should the relative weights be changed? How should one take account of quality improvements? One reason why the Chinese may think their cost of living is rising so quickly is that consumers are moving upmarket—for example, from the local dumpling stand to a restaurant. That increases households’ spending, but is not inflation. 原译: 另外,经济学家对什么事衡量消费物价通胀的最好方法意见不一。我们应该多久改变一次相对权重,还应如何把生活质量的改进纳入考虑范围呢?中国人之所以会认为生活成本攀升得如此之快,其中一个原因就是消费者的消费档次提高了。例如吃饭,他们原来是在当地一个饺子摊就解决了,现在却要到饭店。
评论:How should one take account of quality improvements? 这里的品质改进指的是消费者指数所考虑的一揽子商品里某个或某些商品质地的改善。One reason why the Chinese may think their cost of living is rising so quickly is that consumers are moving upmarket—for example, from the local dumpling stand to a restaurant. That increases households’ spending, but is not inflation. 这句话就是说明这种改善。 同样是外吃的食物, 就算量相同, 但是品质从大排档到餐厅, 大不一样了。 这里的价格提高, 是因为商品质地的改善, 而不是同质地的商品,价格却提高了。
统计学里的消费者指数的编制, 是以相对稳定的(即权重不变的)一揽子商品为基础, 计算出基年的开支金额, 再计算出某一非基年的开支金额, 以后者除以前者, 得出后者的比例。 假设前者为100, 如果后者是115, 则说后者相对于前者, 有15%的通货膨胀。 如果后者在前者之后数年, 也可用复利的方式得出这数年年平均的通货膨胀。
这种计算的问题有几个:
1. 这一揽子商品, 也许在基年时, 是一个典型的商品篮,但是数年后不再是典型, 这时权重要不要改变, 何时改变?
2. 即使数年后还是典型, 但是, 某一商品的品质大大改善, 所以价格也大大提高, 从而使得当年的指数增高, 这能算是通货膨胀吗?
3. 数年后, 全新产品出现, 过去的一揽子里没有。 这时怎么处理?
If you find the theory of price indices hard to digest, why not rely on simple burgernomics? The Economist’s Big Mac index was devised as a lighthearted gauge to whether currencies are under- or overvalued, but Jonathan Anderson, an economist at UBS, suggests that it can also be used to cross-check official inflation rates. Consisting of food, materials, wages and rent, the McDonald’s Big Mac offers a handy consumer-price basket, whose composition has hardly changed over time. 原译:假如你难以理解物价指数的理论,为何不信一信简单的汉堡经济学呢?经济学家的巨无霸指数是一个能判断流通货币是否被低估或高估的简单计量。而UBS的经济学家乔纳森•安德森认为,这个指数也可以用于对官方通胀指数的交叉检查。麦当劳的巨无霸指数由食物、材料、工资和租金组成,能给出一个方便的消费价格指数(指数的成份不会因时间的推移而改变)。
评论: lighthearted 轻松愉快的?
The Economist’s Big Mac index was devised as a lighthearted gauge to whether currencies are under- or overvalued, 这个指数原本设计来衡量各国的货币价值有没有被高估或低估。 (原是用在各国货币的汇率的比较上, 检查汇率有没有被人为操控, 这里又将它转用到一国之内的通货膨胀上)
cross-check 反复查核, 再次查核
Consisting of food, materials, wages and rent, the McDonald’s Big Mac offers a handy consumer-price basket, whose composition has hardly changed over time.
按我上面评论所说, 统计学里的消费者指数有几个问题, 但是巨无霸指数则在一定程度上可以避免之。 权重稳定, 一揽子商品重量不变, 品质也不变。
We have compared prices late last year with those ten years earlier in a selection of countries. For example, the price of a Big Mac in China rose by an annual average of 3.7%, against the reported inflation rate of 2.3%. Is this evidence that the government is underreporting inflation? Not necessarily; the discrepancy is roughly the same as in America (see chart). One might expect burger inflation to exceed overall inflation because food prices have risen faster than other prices. Yet in Russia and Indonesia, Big Mac prices rose by a lot less than the official price index, possibly suggesting that the governments’ figures overstate inflation. 我们选取了十个国家,对他们十个月和去年年末的价格进行了对比。例如,中国的巨无霸物价指数上升到3.7%,达到去年的平均值,而不是官方公布2.3%的通胀率。那这是政府压低通胀率的证据吗?不一定,美国存在的数据差异也和中国的大致一样(见下表)。有人会预期,汉堡通胀率会超过所有通胀,因为食物价格比其它价格涨得更快。不过,俄罗斯和印尼的巨无霸价格的涨速远远低于官方物价指数,人们认为这些国家的政府有意夸大通胀。
评论:We have compared prices late last year with those ten years earlier in a selection of countries. = We have compared prices,which prevailed late last year , with prices, which had prevailed ten years earlier, in a selection of countries.
the price of a Big Mac in China rose by an annual average of 3.7%, against the reported inflation rate of 2.3%.中国的巨无霸物价指数(在这10年里)年平均上升3.7%,而官方公布的(此10年的平均)通货膨胀率只是2.3%。
One might expect burger inflation to exceed overall inflation because food prices have risen faster than other prices. Yet in Russia and Indonesia, Big Mac prices rose by a lot less than the official price index, possibly suggesting that the governments’ figures overstate inflation. 有人也许会这样预期,汉堡(这种单一商品的)通胀率总会大过综合性的通胀指数,因为食物价格比其它商品的价格涨得更快。不过,俄罗斯和印尼的巨无霸价格的涨速远远低于官方物价指数,这可能意味着这些国家政府的数字高估了通胀。
However, burgernomics does support claims that Argentina’s government is cooking the books. The gap between its average annual rate of burger inflation (19%) and its official rate (10%) is far bigger than in any other country. Its government deserves a good grilling. 原译: 尽管如此,汉堡经济学证明这一事实:阿根廷政府在做假账。汉堡通胀率平均值(19%)和官方数据(10%)之间的差额远远大于其它国家。阿根廷政府确实应该好好接受质疑。
评论:不过,汉堡经济学却支持这样的主张:阿根廷政府在通货膨胀计算上做手脚。
Its government deserves a good grilling. 这里的grilling 呼应题目中的 flame-grilled lies。 政府应当用明火炙烤, 象汉堡包一样。