LETTER: Misinformation on inflation
The Biden administration is going all out to convince people that inflation is not as bad as it really is. The Fed says that 3.2 percent is higher than its 2 percent target. But the real rate is much higher. It seems that nobody has noticed that the government conveniently now leaves out the “volatile items” of fuel, food and housing, which are the three things affecting our pocketbooks the most. Those items used to be in the “basket of goods” used to calculate the consumer price index.
Moreover, the administration is ignoring shrinkflation. If a product size is reduced by 10 percent but the price stays the same, that’s a 10 percent increase in cost (inflation). Coincidence or intentional deception?
