Like so much else, the official inflation numbers have been politicized. Their definition(s) are routinely tweaked to put the best possible spin on the economy. The numbers are then quietly revised months later. And yes, a stroll thru your local supermarket is proof positive prices have skyrocketed.t
“Their definition(s) are routinely tweaked to put the best possible spin on the economy. The numbers are then quietly revised months later.”
Indeed they are. The reporting agencies are massaging the numbers in order to get the headlines they want at the moment. Financial news sites (formerly trusted but not any longer) never question the numbers but take the information received at face value and post the headlines to give the people the message they want them to see. A few months later, the number are quietly revised.
Tomorrow’s reporting will be interesting to see. Below is a link to a site where you can see the numbers reported, the last reporting period’s figures, and the economic forecast of those numbers. I find it quite handy.
https://tradingeconomics.com/calendar
Scroll down and you can see the U.S. job numbers which will automatically be updated at 8:30 a.m. for the prior week, month, and year. Factory orders will be updated at 10:00. Other nation’s economic data is posted there as well. As I said, it is a handy site to have especially if you do your own stock trading.