Great! Thanks to all of the Fed & Federal Government’s hard work, we are finally really able to enjoy buying less stuff for the same amount of dollars!
Last week, Brian said food prices were going up even more, and he also said the price increases were not “transitory”:
That discussion is recommended, especially for people who consume food.
Regardless, moments ago, the
Ministry of Plenty Bureau of Labor Statistics released its Consumer Price Index, the CPI, for the month of March, 2021.
Interestingly, when it comes to anybody not on the party’s dole, the Fed and the Federal Government continue to have the consensus well conditioned:
With textbook worthy ranges like that, the propaganda really is something, isn’t it?
Now, the CPI is just one measure of inflation, produced by the BLS, and there are other regular reports on inflation as well, such as the Price Consumption Expenditure, the PCE, which is the Fed’s go-to report and the data referenced when Jerome Powell talks about the Fed’s current goal of killing off the US dollar at a rate moderately above 2.0% for some time, so that the rate averages 2.0% over time.
Still, for workers, retirees, pensioners, and anybody really, especially those who get a cut of the money printing action in one way or another directly from Uncle Sam himself, the CPI matters, and according to the BLS, in the month of March, 2021, prices are up 2.6% from last March:
The government likes to take out food (3.5% rise) & energy (13.2% rise), however, and when doing so, prices only rose 1.6% from last March instead of 2.6%.
Be careful when looking at the data, however, especially when it comes from the Fed, or in this case, the Federal government, because the data is highly political, the data is crafted to create a specific narrative, and there is the perverse incentive to understate inflation even more than it’s already understated.
In other words, if the Federal Government says prices rose 2.6% from last March and 0.6% from last month, what did prices really rise, and, more importantly, what will the price rises feel like when the government says they rose 5.0% year-over-year and 1.5% month-over-month?
Nonetheless, here’s a look at various food price increases:
Dairy is only up 1.6% from last March?
Gold & silver are trying to recover from the repeated poundings over the last few days:
The saying, “the beatings will continue until morale improves”, comes to mind.
Of course, there’s huge, breaking news today when it comes to a certain topic we can’t touch with a ten-foot pole.
That news will make a bunch of Deep State Globalists pretty darn mad.