Don't tell me there's no inflation problem

[Bottomfeeder 244]

I know there are those Kool-Aid drinkers here regarding government numbers on inflation. But, here it is. Real inflation numbers.

MIDLAND, Va. — The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits.

http://www.mcclatchydc.com/227/story/18902.html

[AFTiger 282]

OOPS! Maybe we need to stop pushing ethanol.

[otterinbham 0]

I know there are those Kool-Aid drinkers here regarding govermment numbers on inflation. But, here it is. Real inflation numbers.

MIDLAND, Va. — The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits.

http://www.mcclatchydc.com/227/story/18902.html

Okay, overall food prices have increased 4.2 percent over the past year. What would be your point? The cumulative rate, minus the volatile food and energy sectors (Which have always been excluded), have increased 2.5 percent over the past year. It's certainly more than we'd like, but no indication of a runaway rate. After all, we could cherry pick data all day, given how gas prices declined 1.7% in July and 1.1% in June.

What's more it's really not a good idea to pick 12 items out of the entire range of 20,000 products found in a grocery store and worry. For every item on that list, you'll find others that dropped a commensurate amount. Coffee, oranges, and every other food product that gets cultivated is notoriously suceptible to weather, much more so than fiscal policy.

[Bottomfeeder 244]

I know there are those Kool-Aid drinkers here regarding govermment numbers on inflation. But, here it is. Real inflation numbers.

MIDLAND, Va. — The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits.

http://www.mcclatchydc.com/227/story/18902.html

What's more it's really not a good idea to pick 12 items out of the entire range of 20,000 products found in a grocery store and worry. For every item on that list, you'll find others that dropped a commensurate amount. Coffee, oranges, and every other food product that gets cultivated is notoriously suceptible to weather, much more so than fiscal policy.

Name something that has dropped in price.

[otterinbham 0]

I know there are those Kool-Aid drinkers here regarding govermment numbers on inflation. But, here it is. Real inflation numbers.

MIDLAND, Va. — The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits.

http://www.mcclatchydc.com/227/story/18902.html

What's more it's really not a good idea to pick 12 items out of the entire range of 20,000 products found in a grocery store and worry. For every item on that list, you'll find others that dropped a commensurate amount. Coffee, oranges, and every other food product that gets cultivated is notoriously suceptible to weather, much more so than fiscal policy.

Name something that has dropped in price.

Over the past twelve months?

Apparel.

Home prices (As opposed to housing costs).

New cars.

Transportation.

In the past three months, gasoline.

[TitanTiger 20,511]

Lovely. All things I'm not in the market for, save gasoline.