“Lies, lies and lies.”
The same Bureau of Labor Statistics will issue the last Consumer Price Index Report prior to the election on October 16. The September report indicated the inflation rate on all items (including food and energy) was running at an annualized 1.7% rate. Excluding food and energy it is running +1.9%. Food price inflation annualized was reported at +2.0% and energy price inflation reported at minus 0.6%.
Gasoline prices are climbing and I’d be happy if food prices in my grocery store were only increasing at a 2% annual rate. No doubt the books are being cooked here as well.