Truflation Oracle Update [May 2022] — Detailed Report
Each month we update our data providers to increase the data coverage and make our independent US inflation index more accurate and resilient. This month’s Truflation update took place on the 16th of May, 2022.
We’ve added one new data provider for the existing data category: gasoline.
The data update had no significant effect on our metric (+0.01%).
We’ve added one new data provider AAA Gas Prices, for the gasoline, all types (regular, midgrade, premium) subcategory, which is a part of the energy commodities subcategory within the transportation category of our index. This data does not include prices for diesel, which is a part of the other motor fuel subcategory. You can read more about our data categories in our white paper.
New data does not change our index data coverage in terms of relative importance. We simply added more data points from the new provider to the category we previously covered to increase the accuracy, diversity, and frequency of our data sources.
We are still testing the new demographic data, mortgages, and property tax data that we recently obtained and which will be incorporated in future updates.
This month, the team also launched new Chainlink Nodes on the Link Marketplace for multiple chains and testnets:
Truflation is a daily, data-driven, real-market inflation rate available on-chain to Web3 applications. We aim to become the go-to data provider for economic and finance indices on the blockchain.