This article comes from “citizens.news”
Federal authorities may be hiding the true rate of inflation from the American public by changing how the Consumer Price Index (CPI) is calculated.
This is according to financial expert Rebecca Walser, who noted in an interview with Brannon Howse, host of the “Worldview Report,” that this main statistic used to track how prices change over time has been tampered with once again. (Related: Credit card debt SURGES to record-high $930.6 billion and will keep increasing due to inflation, interest rates.)
“This will be the first calculation where the year-over-year index level is set to just a one-year level versus a two-year level,” said Walser. She noted that this has the effect of making inflation not seem like a bigger issue.
As an example, if people were to compare the price of a basket of goods from 2022 to 2020, “then you’re going to see a much bigger number than if you’re comparing 2022 to 2021, because the index was set for a two-year running total,” she said. “It’s interesting to me that they’re [once] again gaming the system by changing the way we calculate CPI.”
Howse noted: “They’re not going to let you know, with these new inflation numbers coming out … the price of eggs in 2020, early 2021, compared now to 2023, because that would show you a massive jump.”
Core inflation metric also being used to hide how bad inflation is
January’s year-over-year inflation rate is 6.4 percent, slightly lower than the 6.5 percent year-over-year inflation recorded in December. This is according to the latest CPI, published on Tuesday, Feb. 14.
Month-over-month inflation rose by 0.5 percent, after dropping slightly in December. Core inflation, which is the price of all items in the CPI, excluding food and energy, is 0.4 percent, up by 0.1 percent compared to December.
The government likes using core inflation as a supposedly “better indicator” of overall inflation trends due to the volatility in the prices of food and energy. But when looking at the categories of different products and services and how much their prices rose in January, a “core inflation” of less than half a percentage feels very misleading.
For example, the price of eggs rose by a whopping 70.1 percent. This is followed far behind by butter and margarine, which rose by 32.5 percent. These two food products grew the most in terms of year-over-year inflation.
For energy, fuel oil and utility (piped) gas services increased the most, at 27.7 percent and 26.7 percent, respectively.
Other products and services that inflated the most outside the government’s core inflation metric include frozen vegetables, lettuce, cereals and bakery products and electricity, which all rose year-over-year by 18.6 percent, 17.2 percent, 15.6 percent and 11.9 percent, respectively.
The overall inflation rate for food at home is 11.3 percent, food in general is at 10.1 percent, energy inflation is at 8.7 percent and food away from home is at 8.2 percent.
Federal Reserve Chairman Jerome Powell claimed in a speech around a week before the latest CPI was published that the inflation crisis is at its end. He said “the disinflationary process has begun.”
But these numbers, along with the change in the way the CPI is calculated, proves that this is not the case and inflation is still a persistent problem in the United States.
Learn more about the current state of America at Collapse.news.
Watch this clip from the “Worldview Report” featuring host Brannon Howse’s full interview with Rebecca Walser regarding how the actual inflation rate is being hidden.