From Mogambo:
John Crudele of The New York Post reports that “American Auto Association calculates that gasoline prices have risen 21.5% since this same time last year. But the government swears gas prices are only 6.9% higher over the year.” What a discrepancy! The upshot is “That little trick alone saved the CPI from being 0.53% points higher.”
And it is not just about gas, as he goes on to write, “Despite all you’ve read, the government thinks housing is only 2.2% higher over the past year. Others, including the National Association of Realtors, calculate that housing is up at least 12.5%.”
In short, your government has screwed things up royally, but instead of fixing the problems they caused, they prefer to lie about it.
There’s really no reason to pay attention to the mainstream economists any more. Their analytical efforts are so hopelessly compromised by the increasingly delusional statistical data that even if their models were perfect – which they aren’t – the garbage being fed into them guarantees garbage coming out on the other end.