Financial markets roared on Tuesday as the annual inflation rate slowed to 3.2 percent in October.
The core consumer price index (CPI) eased to four percent.
Next on the inflation calendar will be the producer price index (PPI), which has been gaining steam in recent months.
The most notable facet of the Bureau of Labor Statistics’ (BLS) monthly CPI report was the idea that food prices are only up a little more than three percent over the past year. This is nonsense, of course.
But one economist successfully debunked the absurdity behind the CPI.
How? The weights.
CPI staffers estimate how much you are spending on each item listed in the report.
So, Chris Martenson looked at health insurance costs, which ostensibly collapsed 34 percent over the past year. At the same time, it is estimated that the public is spending 52 cents out of $100 on health insurance.
That’s less than lamps!
Here is the full video:
The #CPI was another pack of easily exposed lies. For example, the BLS claims that health insurance costs are down -34% over the past year. 🤡🌎
Here’s a quick video on the subject. Please share this with anyone who might need to see this. pic.twitter.com/cX8NMH6Bti
— Chris “Context Matters” Martenson, PhD (@chrismartenson) November 14, 2023
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