Wrong! If you start measuring inflation at the start of Biden's inauguration, the CPI was 258. It is now 309, so prices have increased 51 basis points since Biden took office; an increase of almost 20% in less than 4 years. So to say that inflation is down means that the CPI would have to be less than 258, so that statement is a baldface lie.
Also, the CPI conveniently does not include changes in fuel or food costs, which means the CPI is substantially understated. If you'd include those price changes, the CPI index would suggest an inflation of closer to 35%. Since I'm living off my social security checks, my spendable income has fallen by almost a third under Biden's "leadership".
Last year CPI +8.
This year is projected at +3.5.
The Fed target is +2.
RE: Also, the CPI conveniently does not include changes in fuel or food costs, which means the CPI is substantially understated.
Ok, I’m trying to understand WHY they don’t include these two most basic consumer necessities in the index. The 4 basic things in life we spend on the most are :
FUEL
FOOD
HOUSING
CLOTHES
Shouldn’t these be ALL included in the CPI? If not, why not?