You Decide: Is the true inflation r ate being hidden
One of the most frequent questions I’m asked in my presentations
across the state is about inflation. Specifically, people want to know
if the true inflation rate -- aka the rise in the cost of living -- is
The skepticism about the reported inflation rate revolves around three
questions. Does it include everything we typically buy or are some
important products omitted? Does it match everyone’s personal
experience? And why does it often seem prices are rising faster than
what the official inflation rate suggests? Let me try to address each
of these questions.
At just about every one of my meetings, I can count on someone saying
the official inflation rate is useless because it excludes prices of
two of our most important necessities, food and fuel. And the
individual will continue, ...