"The CPI is a lie. Price inflation is even worse than advertised.
According to the December 2023 CPI report, price inflation was 3.4 percent on an annual basis. That doesn’t seem too bad. But in reality, prices are rising far faster than the data indicates.
Here’s the ugly truth: the CPI drives markets and motivates policy, but it is nothing but speculation, estimation, and wild guesses."
"The CPI is a lie. Price inflation is even worse than advertised. According to the December 2023 CPI report, price inflation was 3.4 percent on an annual basis. That doesn’t seem too bad. But in reality, prices are rising far faster than the data indicates.
Here’s the ugly truth: the CPI drives markets and motivates policy, but it is nothing but speculation, estimation, and wild guesses."