Quote:
Originally Posted by JurisDictum
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https://www.bls.gov/cpi/
Normal inflation levels are about 2%
Food at home is up 3% over the course of the year. There is actually deflation in dairy products -- but there is 8% inflation on meat eggs and poultry. At least part of this is due to supply chain issues. We are actually in a bit of shipping crisis -- but the elites think its too boring and technical of a story for most people.
Rent is up 3.2%. Rent is expensive but this is hardly something new caused by the pandemic or the response. I'm not going to bother getting numbers on college, because its the same story.
Energy is clearly the big source of recent inflation.
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Yeah so they changed the CPI numbers from being a 'basket of goods' to 'cost of living' during the Clinton administration so they could manipulate it to say inflation is not as high as it actually is.
So for example, shelter is calculated by owner's equivalent rent of primary residence. You may be thinking, what the hell does that mean, and, there are several websites that track home sales and rental pricing that you can easily look at to see what homes sold/rented for the year before and what the sell/rent for now, and you would be right. That is easy and logical. However, if you just randomly call people uniformed on the current real estate market and ask them what they think they can rent their house for right now, it comes out to be way less and the number changes way less often. So thats how the government decided to calculate that in the CPI now and sell to the public who don't understand how cpi works.
Also, 'Bit of a shipping crisis' sounds way worse than 'transitory inflation' so i suggest going back to that.