It is hard for anyone who has been in a grocery store in the past year to believe that inflation is low.
The Washington Examiner reports:
From July to August, the “Core Consumer Price Index” did not move. That means zero inflation, if you use the measure of inflation the Federal Reserve uses when setting monetary policy. But core CPI omits volatile prices like food and energy. If you have a family, you’re probably pretty aware that food and utility bills are a big factor.
The result: The inflation measure that guides Fed decisionmaking has little resemblance to the inflation measure that guides family budgetmaking.
This is another example of the government manipulating numbers to get the desired result. Any resemblance to what is actually taking place and what the government is reporting is purely coincidental.
The Washington Examiner lists some of the price increases in the last year that impact families trying to live within their budget:
Food at home is up 2.9 percent.
Electricity is up 4.1 percent and gas bills are up 5.8 percent.
Coffee is up more than 50 percent from last year.
The article reports:
The net result is that life has gotten considerably more expensive for me since this time last year. I’m not saying this ought to guide our monetary policy. I’m just saying that core CPI doesn’t track the cost of living.