Skip to comments.U.S. consumer prices up 0.3% in September
Posted on 10/19/2011 6:15:59 AM PDT by Free Vulcan
...The Labor Department said the consumer price index rose a seasonally adjusted 0.3% last month, pushing the increase over the past 12 months up to 3.9% from 3.8% in August...
The core rate of inflation, meanwhile, rose a smaller 0.1% in September, keeping its 12-month increase at 2.0%. It was the smallest increase since March.
Economists surveyed by MarketWatch had forecast consumer price index, which tracks inflation at the retail level, to rise by 0.3% in September. The core rate was expected to increase by 0.2%
(Excerpt) Read more at marketwatch.com ...
But they don't count.... riiiight.
Well that’s the thing - they have an imaginary ‘basket’ of goods in certain proportions they track. If you were to buy that basket you would probably see exactly that level of inflation.
Problem is your and my basket is much more weighted to...you guessed it...food and energy. So the 19.3% increase in energy has had a great deal more impact on anyone who doesn’t buy the ‘basket’. THAT’s what they don’t tell you.
I’d like them to run stats on how many actually fall in and out of the parameters they set for their ‘basket’. I bet a great deal many don’t come close.
Well, the government has every possible incentive to underestimate inflation. A lot of government programs, including military pensions, are tied to the CPI. Now some might consider it a great way to get out of paying one’s legitimate obligations (by inflating away the value), but it’s just another way to avoid making hard decisions about what should and shouldn’t be done. It’s so much easier to inflate across the board and essentially hurt those who actually earned benefits, like the military, than to cut off the welfare queens.
Anybody who actually buys stuff like food and fuel would call BS on the statistic.
Thankfully most of those folks will be voting next November.
By election day, most folks will be referring to 2007 as the “good old days”.
Yep, those frivolous discretionary income purchases of food and fuel are not counted. No one needs to worry about that inflation as long as iPhone and iPod prices stay the same.