CD Media

On Inflation: Friday’s 7% Increase In Consumer Prices Is 11% When House Prices Are Added

On Inflation: Friday's 7% Increase In Consumer Prices Is 11% When House Prices Are Added
Image by Dietmar Rabich

Please Follow us on GabMindsTelegramRumbleGab TVGETTR

Consumer prices rose 0.8% in November, pushing the increase in the last 12-months to nearly 7%. That represents the most significant increase since 1982. But in reality, the current inflation rate is much higher than what is reported and above that of 1982.

The shelter component of the CPI, which has the most significant weight, increased 3.8% in the past year. That compares to a 7% to 9% increase at the highest point in 1982. But that is not an apples-to-apples comparison.

In 1982, the CPI shelter component included house prices for owners’ housing costs. But nowadays, the shelter component for owner’s housing is based on a non-market rent index. House prices are up close t0 20% in the past year versus a 3.5% increase in owners’ rent...

To read more visit Zero Hedge.

CDMedia is being targeted and obviously too effective! We need your support to put more reporters in the field! Help us here!

Related posts

Oil Recovers, Stocks Pop As States Exit Chinese Coronavirus Lockdown

CD Media Staff

Bitcoin-Backed Bonds Are Coming To Wall Street As Goldman Embraces Crypto-Collateral

CD Media Staff

The Fed’s Move To Redefine The Money Supply Is An Ominous Sign

CD Media Staff

Leave a Comment

Subscribe to our evening newsletter to stay informed during these challenging times!!