Don’t Believe Your Lying Eyes — Inflation Is Even Worse Than It Appears
The latest inflation report from the U.S. Department of Labor showed an acceleration in price increases, with the consumer-price index (CPI) rising 0.6% from December 2021 to January 2022. The annual increase, measured without seasonal adjustments, was 7.5% — a four-decade high. As troubling as these numbers are, the truly scary figure is hiding behind them. A recent change...