Today's published Consumer Price Index number is typical of the deception that can be created using actual numbers and taking them completely out of context.
Today's Consumer Price Index decline of 0.6% is very deceiving. With the exception of energy prices, the Consumer Price Index went up for
all individual items. The ENTIRE decline is accounted for by a drop in fuel prices. The so-called "core" rate of inflation is actually rising (it excludes fuel costs, along with food costs.) Below is a list from Briefing.com of the individual price increases:
Category............... Nov.... Oct.... Sep.... Aug.... Jul
All Items.............. -0.6%.. 0.2.... 1.2..... 0.5..... 0.5
Food&Beverages.. 0.3..... 0.3.... 0.2..... 0.1..... 0.2
Housing............... 0.5..... 0.9.... 0.4..... 0.2..... 0.4
Equivalent Rent.. 0.2..... 0.1.... 0.1..... 0.2..... 0.2
Apparel............... 0.2.... -0.4.... -0.1.... 1.0.... -0.9
Transportation.... -4.8.... -1.3..... 5.1..... 2.2..... 1.5
New Vehicles.... -0.1..... 0.5..... 0.4.... -0.5.... -1.0
Motor Fuel...... -16.0... -4.4.... 17.8..... 8.2..... 6.1
Medical Care....... 0.6..... 0.5..... 0.3..... 0.0..... 0.4
Recreation........... 0.0.... 0.2...... 0.4.... 0.3...... 0.1
Educ&Commun.... 0.4.... -0.1...... 0.7... -0.1...... 0.2
Other.................. 0.3..... 0.1..... 0.1.... 0.2...... 0.6
Tobacco............ 0.4.... -0.1..... 0.7.... 0.6...... 1.1
Special Indices
Core................... 0.2%... 0.2.... 0.1..... 0.1...... 0.1
Energy............... -8.0..... -0.2.. 12.0..... 5.0...... 3.8
Services.............. 0.5...... 0.7.... 0.4..... 0.2...... 0.4
This information can be found at: http://www.briefing.com/...
It's worth pointing out that food prices increased 0.3% (annual rate of 3.6%), apparel and equivalent rent increased 0.2% (annual rate of 2.4%), medical care increased 0.6% (annual rate of 7.2%), and education increased 0.4% (annual rate of 4.8%).
ALL consumer prices, except for transportation, are increasing. The reported decline in prices is due exclusively to the record decline in fuel prices. Despite this artifactual decline in prices, consumer buying power is declining, and "real" wage increases are lagging behind price increases.
unlawflcombatnt
EconomicPopulistCommentary
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The economy needs balance between the "means of production" & "means of consumption."