And in yet another flight of fantasy:
Consumer inflation the past 12 months has increased 6.0 percent, down from 6.4 percent a month ago—a 0.8 percent increase from Feb. 2022 just fell off the 12-month chart reading—according to the latest data compiled by the Bureau of Labor Statistics as the Federal Reserve continues to eye further rate hikes in order to tame what has been persistent inflation.
Uh huh. Six percent, hey?
A 2 percent decrease in gasoline and a 13.6 percent decrease in used cars and trucks was offset by a 9.2 percent increase in fuel oil and a 5.8 percent increase in new vehicles. There was a whopping 12.9 percent increase in electricity and a 14.3 percent increase in utility (piped) gas service, indicating continued high demand for energy services. There was a 9.5 percent increase in food, plus an 8.1 percent increase in shelter and a 14.6 percent increase in transportation services, plus a 3.3 percent increase in apparel, a 3.2 percent increase in medical care commodities and a 2.1 percent increase in medical care services.
Let’s not get blinded by these carefully-constructed lies, here. Gas prices went down for about two weeks, and then shot up again. Supermarkets have published reports about 30-, 40- and 50 percent increases in commodity items,
True inflation is running well into the double digits (high teens or more), and we consumers are being bent over the government’s desk and shafted without lube.
Enjoy your day.