Posted on 06/23/2008 3:54:29 AM PDT by knighthawk
Why official figures don't tell half the story. By Emma Wall
Rising food and fuel prices, as well as increased taxes and other household bills, mean the average family must cope with inflation that is twice as high as official estimates, according to new research by The Daily Telegraph and moneysupermarket.com, the price comparison website. Taking all these factors into account, the Real Cost of Living Index (RCLI) is rising at 9.5 per cent.
No wonder hard-working families wonder how the Retail Price Index (RPI) can be only 4.2 per cent and the Government's preferred measure of inflation – the Consumer Price Index (CPI) – claims inflation is only three per cent.
(Excerpt) Read more at telegraph.co.uk ...
I guess the U.S. government is not the only one that lies about the inflation rate.
Uh oh! Soon the pollycons will be here to "prove" to you that the price of gas and energy and housing, etc. are just too "volatile" to add into the CPI.
In private industry, cooking your books would be illegal (see Enron, MCI Worldcom, and others). Unfortunately for us, Big Government makes the rules but refuses to play by them.
Your point?
nice to see a major publication come out and say it, but how many Freepers actually believe US government CPI numbers? I know some do, as I have had similar discussions before, but presumably at some future point it will be clear to all concerned that the cost of living in the US is going up at 10%+ annually, easily, at present.
Gotta love the Gov't's cost of living increases on Social Sec, for example: "Your COL for the coming year is x-amount" = and then 'Your increase in Medicare deduction" takes most of the 'increase' back.
I've been retired now 10 years - and the Medicare deduction (not counting the yearly deductible and 20% copay) has more than doubled to the $100 per month level - no doubt above $100 this coming year.
It’s a gift. Be grateful for what you get.
I have not believed the goobermint’s CPI numbers in around 15 years after I started tracking my power, medical, gas, food and taxes with a keen eye.....FYI: The last 2 years have averaged 11%/year increases in gas, heating oil, and staples (food). Look for a 30% increase in meat by the end of Sept.
“Look for a 30% increase in meat by the end of Sept.”
No NO NO!!! This will be GM meat, more efficient, and the double the price/pound will in fact be a net savings in cost!
Not what the courts have said. The money you paid was spent on other things. It’s gone. Every dime you get comes out of some suckers wallet. You’re welcome.
I figure by the time I hit retirement age I will have gone north of $200,000 into the system.
With what they say I'll get for a monthly check I'll be able to draw SS for 125 years.
Opps, 10 1/2 + years
I hate that little note I get from SS every year.
Parenthetically but related, got a letter from the Treasure department Saturday. Told me they were going to send me my "Stimulous check". Why not put the check in the letter telling me I'm getting the money and save the taxpayers a few cents*100,000,000?
That’s not the way SS works. Your contributions no longer belong to you. They don’t determine the amount of your retirement benefit.
You think your payrole taxes were invested? Ok.
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