So it’s hard to miss that we’re paying $1.50 more per gallon of gas these days then we were a year ago. It’s also hard to miss that, at the grocery store, a package of butter costs a dollar more than it did just a couple of months ago.
So it’s no surprise to read news reports about rising food and fuel prices, or to hear experts say they’re concerned about the chilling effects of such rises on the economy.
What is surprising is to read that core inflation is chugging along at a modest 2%.
Gosh, that hardly seems like anything to worry about.
Until you learn that “core inflation” specifically excludes measures of food and fuel prices.
Um, excuse me, but other than mortgage payments and internet service, food and energy are actually the only things we’ve spent money on this year. I drive to work, then I drive home to a house where I get a nice hot meal in a house that’s heated, hopefully, to a temperature that’s tolerable if I wear long underwear and two sweaters. Ben Bernanke will have to forgive me if I’m not stocking up on iPods and furniture and designer shoes to take advantage of this modest inflation rate.
Anyone else out there get the feeling that our government experts aren’t really acting with the best interest of the citizenry at heart?
Either that, or they simply have no idea what they’re doing.
I’m not sure which is scarier.