Inflation's Under Control?
March 4, 2008 8:58pm CST
Too bad they don't count anything! http://www.fivecentnickel.com/2008/02/18/cost-of-living-increasing-faster-than-inflation-estimates/ Here's what it says: "According to a recent blurb from Consumer Reports, your cost of living might be increasing faster than government inflation statistics seem to indicate. Based on official numbers, the Consumer Price Index (CPI) rose 4.1% from December 2006-December 2007. Not surprisingly, the numbers vary substantially across categories. Indeed, gas was up 29.6%, heating oil was up 28.3%, and public transportation was up 7.2%. Grocery prices were also up 5.6%, with dairy leading the way at 13.4%. The problem here is that gas and groceries are omitted from the so-called “core inflation rate,” which is typically calculated by starting with the CPI and then excluding certain categories — including gas and groceries!" If our cost of living doesn't include gas and groceries, what the he11 DOES it count? Always keep this in mind when you hear that our economy isn't really doing all that bad! I'm sure I'd be doing just great if my car ran without gas and I didn't have to eat to survive. I must just be too spoiled and pampered, I guess. Any comments or thoughts on this? Annie
• United States
5 Mar 08
And that's why you have to dig into these things. People will always use numbers to prove their point while omitting anything that doesn't support their claims. I noticed there was no mention of how much rent and housing costs have risen. One of the reasons I moved out of Orlando is that my rent was being raised by over $250 a month when my lease was up.
• United States
7 Mar 08
LOL...that's pretty much what I think about that..If we didn't need groceries or our cars to get to work and back, I could see it no being figured in but pretty much everyone needs these things to survive at least here in America...Did they forget the price of gas or maybe the government is just too overjoyed at the amount their making per barrel of gasoline that's over 105.00 dollars a barrel- making them richer that is the governments true concern- themselves...