86°F
weather icon Clear

LETTER: Inflation is worse than reported

In his April 16 letter, John Severson laments the compounding effect of inflation and the growth of consumer price index exceeding after-tax income growth. It’s worse than he thinks.

The CPI is not accurately reported. This is because shrinkflation, the art of reducing the contents within a package without reducing its price, has not been factored into the CPI as a price increase under President Joe Biden, owing to the alleged difficulty in gathering statistics. So even if the reported CPI increase were to be correctly determined for the current fiscal year, the base against which it would be applied would be substantially understated thanks to three years of understating previous CPI hikes. And unless corrected in the base amount, those errors will compound in perpetuity.

Those living on Social Security or federal retirement checks are most vulnerable because the CPI is the basis for their income increases.

Don't miss the big stories. Like us on Facebook.
THE LATEST
LETTER: Library officials get Super Bowl tickets

At minimum, the library board needs to recover the cost of each ticket from their salaries, and both men need to issue a formal public apology, I would think.

LETTER: NFL runs from faith and family

The NFL is trying to distance itself from the personal beliefs and faith of an NFL player, Harrison Butker. What hypocrisy.

LETTER: Biden wants it both ways

President Joe Biden invoking executive privilege to stop the release of the audio from special counsel Robert Hur’s interview comes as no surprise.

LETTER: Greens against green energy

No sensible Nevadan would ever look to California for a solution to anything.