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Many Now Think Inflation Helps

 
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10/27/2013 07:27 PM
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Many Now Think Inflation Helps
"WASHINGTON Inflation is widely reviled as a kind of tax on modern life, but as Federal Reserve policy makers prepare to meet this week, there is growing concern inside and outside the Fed that inflation is not rising fast enough."
[link to www.nytimes.com]

To measure the cost of living for consumers and come up with the Consumer Price Index, the Bureau of Labor Statistics prices everything consumers spend money on. Then all of the expenditures are categorized and weighted based on the amount that the average consumer spends on those categories. The percentage change from month to month is the rate of inflation, and it's usually expressed as an annualized number.

The all-items inflation rate represents everything people spend money on: haircuts, plane tickets, medical care, clothes -- you name it. But, that number is puffed up by the pesky necessities -- food and energy. So those two categories are discarded when calculating the core inflation rate.
Read more: [link to www.bankrate.com]

So,they have been using some BS new math that has been modified over the past few decades. Just a couple of examples. 6 years ago average price of 2 liter soda(coke or Pepsi)not on sale was $1.09. today it is about $2.19 to $2.29. Store brand bread was .80 and now it is $1.69. Then there is the price of fuel that I don't even want to get into. See where this is going? WTF would serious inflation do?





GLP