Hello Fed, inflation is rampant and obvious. Why can’t you see it?
Repost from 3-31-2021
“What is it we are measuring or need to measure? I suggest we need to measure inflation, not just consumer inflation. … If we substitute home prices for OER [Owners’ Equivalent Rent] as it used to be (and is far more accurate as well), inflation is up 3.8% from a year ago.”
USAGOLD note: Something needs to be done. Obviously, what the BLS tells us on a monthly basis is not a reflection of the true inflation rate Americans are experiencing on Main Street – at the grocery store, gasoline pump or when buying a house. And its been that way for a long time. Shedlock’s article includes some telling charts.