The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Consumer Price Index Tricks of the Trade

Jul 16, 2012

The news media has been announcing what they call good news about the consumer price index. They say that prices actually decreased in May, and only increased slightly (1.7% before seasonal adjustment) over the last 12 months. They say that indexes for natural gas and fuel oil declined. But they admit to a rise in electricity. Really?!

Are we supposed to celebrate? They say that in June, price rises in food were relatively flat. Yes – because they were already sky-high!

They should tell us something we don’t know about. These experts, advisors, adjusters and educators certainly can’t be doing the shopping every week. Hamburger helper boxes are flying off the shelf as the price of meat climbs. And if you break into a sweat about it, don’t expect to be able to cool off because the air conditioner runs off of what? Electricity!