Lies, Damn Lies, and Statistics

History of inflation in the US from Jan 1914 -...

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How Inflation Could Be 66% Higher Than the Fed Reports – DailyFinance

Mark Twain was right. As most everyone knows, I’m sort of a numbers guy. I have also had a course in statistics and have used them. They can be useful. The CPI is one you should question and this article tells why. Just this morning at breakfast, my rancher friend Tommy was saying that the price for calves was as high as it had ever been. That is more the reality you and I are experiencing and here’s why:

Global food prices are at an all-time high, U.S. gasoline prices are at the costliest level ever for this time of the year and yet inflation, in the words of Federal Reserve Chairman Ben Bernanke, remains “quite low.”

By official reckoning, that’s certainly the case. On Thursday we’ll get the latest monthly inflation figures in the form of the consumer price index, which, to the Fed chief’s chagrin, is running too close to disinflationary levels. Economists, on average, expect January prices to increase at just a 0.3% rate. So-called core inflation, which excludes volatile food and energy prices, is forecast to rise just 0.1%.

via How Inflation Could Be 66% Higher Than the Fed Reports – DailyFinance.

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About Gil Jones

CPA/Attorney/Judge by training and trade. Hobby nut at heart with BMW m/c, computers, ham radio, kayak fishing, photography, hiking and, starting in 2010 some semi-serious running and bicycling (road and mountain bikes). Retired after 16 years on a Texas District Court bench and since 2013 have been mediating cases. I am a Credentialed Distinguished mediator (TMCA).
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