The government is telling you there is absolutely no inflation. Here is the link:
Did you know that energy prices were declining in July? Let’s take a look at some actual data from the REAL world.
It doesn’t take a rocket scientist to see that gas prices went up 4% in July and natural gas prices went up 12% in July. Is there some other form of energy the BLS uses? Essentially the figures put out by your government are a bold faced lie. The MSM will dutifully report the lies of their masters. And the clueless masses will believe the lies because they want to be lied to.
The other crock in these numbers is the owners equivelant rent part of the CPI. It makes up 24% of the CPI calculation. The BLS says it is barely going up at a 0.2% rate. The MSM and other housing bulls tell me that home prices are going up and that rents are soaring. If this is true, why is it not being reflected in the CPI? I thought rents were a monthly expense.
The brazenness in their lies and data manipulation is breathtaking to behold. So it goes.
U.S. consumer prices unchanged in July
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) — U.S. consumer prices were unchanged in July, as lower energy prices offset gains in food and other items, the U.S. Department of Labor reported Wednesday.
Economists surveyed by MarketWatch had expected an increase of 0.2% for both the overall and core price gauges. See economic calendar.
In June overall consumer prices were also unchanged, while the core gauge rose 0.2%.
The CPI rose 1.4% over the year through July, the smallest 12-month change since late 2010. The core rate gained 2.1% over the past 12 months, the smallest gain since late 2011.
The Federal Reserve watches consumer prices, and is expecting inflation to be relatively low through 2013. Though there have been recent gains in food commodity prices, analysts say consumer prices may not be impacted for months.
The Labor Department also reported that real average hourly earnings were unchanged in July, compared with a 0.3% gain in June.