What's the real rate of inflation?
By crispa
@crispa (18)
June 10, 2008 1:31pm CST
Where I live, we keep getting told that inflation is running at 2 or 3%, which means that public sector pay is pegged to rises of that nature. What I wonder is where do they get these figures from? Certainly for me, prices seem to be rising of lot more than 3%. Food, petrol (gas), energy and housing costs (mortgage interest rates) are all up by more than that. In fact I would estimate these have all risen by double digit figures. What, therefore, has come down to balance the overall inflation rate? Certainly electronic goods and clothing are cheaper but how many flat screen TVs do you buy in a year? What is the official inflation rate where you live and what is the actual, perceived rate?
1 person likes this
1 response
@jonesy123 (3948)
• United States
10 Jun 08
http://www.bls.gov/CPI/
There you can learn everything about CPI and inflation. It's a mixture of goods for the CPI. But the data is usually a bit outdated by the time it is all collected, analyzed and published. It's definitely more than 3% now. Unfortunately, public sector pay doesn't keep up with that. In fact here in KY state employees will get a 1% pay increase. Meanwhile everything else probably increased by at least 3 probably 4% just in the last half a year.
