Last month, the US Government reported that gasoline prices at the pump
fell 2%. Here is the daily chart for the price of gasoline future for April and early May. In fact, prices
rose 13% --
in one month! You decide how accurate the government's reporting of the data was. Needless to say, the calculation and reporting mechanism for inflation by the U.S. government is fundamentally flawed. While all other developed -- and most developing -- nations' central banks are expressing strong concerns of future inflationary pressures, only the United States' central bank focuses only on "core" inflation and continually understates its impacts. The answer for "why" probably lies in the governments incentive to mislead so they can continue spending irresponsibly and suppress Social Security cost of living increases.
Food price inflation was reported at the highest in 18 years -- 8.4% annually!
Last month, the US Government reported that gasoline prices at the pump fell 2%. Here is the daily chart for the price of gasoline future for April and early May. In fact, prices rose 13% -- in one month! You decide how accurate the government's reporting of the data was. Needless to say, the calculation and reporting mechanism for inflation by the U.S. government is fundamentally flawed. While all other developed -- and most developing -- nations' central banks are expressing strong concerns of future inflationary pressures, only the United States' central bank focuses only on "core" inflation and continually understates its impacts. The answer for "why" probably lies in the governments incentive to mislead so they can continue spending irresponsibly and suppress Social Security cost of living increases.
