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The inflation rates reported by governments are generally, at the very least, a little lower than they actually are.
And the US government is not an exception. It makes the CPI (Consumer Price Index) artificially lower (by making changes in the methodology) and benefits from it in several ways (increasing its revenues while the voters don’t realize they are being lied to and losing their purchasing power). How the Government Lies about Inflation
The official CPI in the US was 7.5 percent in January 2022 (to know more about this huge increase, click here ). However, if measured by 1980s methodology (as is done by Shadow Government Statistics ), the CPI was above 15 percent in January 2022 . This huge difference can be explained by the several changes made in the methodology of calculating the CPI since the 1990’s: Home Prices and Rents
Current CPI methodology does not actually include home prices. And about 1/4 of its calculation is represented by “owner’s equivalent rent”. This indicator is based on the following question that the Consumer Expenditure Survey asks of consumers who own their primary residence : “If someone were to rent your home today, how much do you think it would rent for monthly, unfurnished and without utilities?” So, it is just a guess. As of December 2021, house prices have increased by 20 percent YTD. Over the same period, rents have increased by 17 percent. ‘Owner’s equivalent rent’ increased by 3.5 percent. If we use the 20 percent increase of house prices instead of the 3.5 percent ‘owner’s equivalent rent’, the 6.8 percent CPI recorded in November 2021 would be 11 percent .
The annual increase in rents (July 2021) as in realtor.com was 25 percent . This figure is closer to a proper representation of […]
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