When the Consumer Price Index spiked off the chart in February, the Bureau of Labor Statistics pinned it on Covid. Now they admit that was all a big lie.
BLS big lie supplier
According to ZeroHedge, BLS is full of BS and the Bureau of Labor Statistics is nothing but a Big Lie Supplier. They admit it.
“Data collection in February was affected by the temporary closing or limited operations of certain types of establishments. These factors resulted in an increase in the number of prices considered temporarily available and imputed.”
Imputed is defined as “a value assigned to something by inference from the value of the products or processes to which it contributes; estimated.” In other words, a “guess.” That’s the Imperial government’s way of justifying the lie.
Don’t even think about trying to claim one of those tinfoil-hat conspiracies. Massive money printing? How bad could that be? Well, in Venezuela they resorted to eating their pets.
ZeroHedge has lots of fancy graphs and figures to help you follow the data and the lie is obvious. They specialize in reporting on financial analysis.
They report that “all eyes this morning are on consumer prices as we near the precipice of last year’s collapse and the (artificial) explosion in year over year comps that the short-term collapse will create (temporarily, if The Fed is to be believed). February consumer prices rose at 0.4% MoM – the fastest pace since July, lifting the year-over-year price rise to 1.7% – the highest since Feb 2020.”
Nine months in a row
What that means is that what you pay at the grocery store and the gas pump has been creeping ever higher for nine whole months in a row.
That’s as long as it takes to hatch a human. The good news is that while grocery prices soared, “Apparel and transportation services costs slide.” That’s the first clue that there is a lie being told.
If you chop out the data for food and energy, the rest of the index only rose 0.1 percent in February. Housing was up 0.2 to 0.3 percent.
The cost of getting your jollies evened out as the 0.6 percent decrease in January was matched by an equal amount of increase in the February recreation index. Car insurance is more expensive though up 0.7 percent. The lie isn’t obvious but it’s there. As they say, the devil is in the details.
As Case Shiller notes, home prices are at a 10 year high while the CPI says home price inflation is at a 10 year low.
If the fed knows what they are talking about and not trying to lie to the public again, we can look forward to the big price increase to be a temporary setback. The only way to know for sure is wait for the numbers to come out in March, April, and May.