.
Well, SOMEBODY’s lying. I guess I’ll just have to go with my own personal anecdotal evidence.
And your charts.
I also found residential prices up for Gasoline, Diesel, heating fuel oil, propane during the month of February.
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
Those are the futures markets.
If the CPI is being computed off futures prices, then it is completely useless and they’re a bunch of clowns — after all, the “C” in CPI stands for “Consumer.”
Here in the west, we used to see a dip in diesel prices in December - that’s when we’d buy our diesel for the upcoming farming season.
This year, there wasn’t any dip - just a period of time when the prices quit going up.
But then I’ve been railing about the idiots in the government missing inflation for years - because we farmers have been seeing inflation non-stop since 2004.
Here’s a little clue for you about how disconnected the clowns in DC are from reality:
Farmers held a meeting with the local fertilizer and chemical rep in February. He brought along a rep from the fertilizer manufacture to “explain things.”
And here’s what the fertilizer rep said:
“We’re going to keep raising the prices until you guys quit buying it.”
Direct quote.
11-52-0 fertilizer was $245/ton in 2001, and you used to be able to lock in a price in autumn, pre-pay 50% and take delivery in the spring.
This month, 11-52-0 is $850/ton, and they won’t hold a price for any longer than a week, and you’d better have a check when the truck shows up. They won’t let you pay on account any more.