“Huh? Then why is everything I’m buying especially food going through the roof?”
Food and gas (ie. the two things you actually have to buy, ie the two things that actually measure inflation) are specifically excluded from the govt inflation calculation.
Figures don’t lie but liers sure figure.
The Bureau of Labor Statistics publishes the inflation rate both with and without gas and food. Now which one is publicized by the press during any month is up to them. The one used to calculate things like the Social Security COLA includes gas and food.
My question is why Laffer sounds like he’s reconsidering his original opinion? We know they’re not including sustenance commodities. Why is he falling for these reports? Fools and old fools, not pretty.