Hello Fed, inflation is rampant and obvious. Why can’t you see it?

MishTalk/Mish Shedlock

Repost from 3-31-2021

artists view of Mainstreet USA

“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.

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