Officially, the U.S. Bureau of Labor Statistics (BLS) says the inflation rate, or Consumer Price Index (CPI), for 2011 was 3%.
But a report issued last week by the non-profit group American Institute for Economic Research (AIER) says the U.S. inflation rate for 2011 is far higher - 8%.
AIER used criteria based only on common daily expenditures to more accurately reflect how inflation affects consumers. Their index excluded less-frequently purchased items, like automobiles.
Economic consultant John Williams, an outspoken critic of the government's economic statistics, contends things are even worse.
Using the government's old methodology from 1980 - before politicians started to monkey with the formula - he calculates the real inflation rate is north of 10%.
That's more than triple the government's figure.This is the result of the Fed and the ECB printing money and it is just the start.
THEY WILL LIE AND LIE AND LIE AND LIE AND LIE TO TRY TO GET OBAMA RE-ELECTED.
TODAY, THEY ARE PRAISING THE JOBS NUMBERS AS IF ADDING 227,00 JOBS WAS GREAT NEWS WHEN IT RALLY DOESN'T EVEN KEEP UP WITH POPULATION GROWTH AND THEIR DOCTORED UNEMPLOYMENT NUMBERS EVEN SHOW UNEMPLOYMENT IS STILL 8.3%.
REAL PEOPLE KNOW THE TRUTH BECAUSE THE SEE IT EVERY TIME THEY SHOP.
AND THEY ALL KNOW FOLKS OUT OF WORK FOR MONTHS AND MONTHS AND MONTHS AND MONTHS AND MONTHS.
ONLY LEFTISTS IN DENIAL CAN BELIEVE THAT THE ECONOMY IS IMPROVING.