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Free Special Report: The Shameful Truth About the CPI

Posted December 5, 2007

“By understating the true rate of inflation, the government saves an enormous amount of money because so many programs’ benefits escalate with the CPI. These expenditures include social security benefits for approximately 48 million people.” — Peter Schiff

by Peter Schiff, Europacific Capital

Baltimore — (TFN): The price increases that consumers face at the supermarket are far greater than what government inflation statistics suggest. College tuitions, medical insurance, hospital beds, gas prices, airline fares and more have all risen at or close to double digit rates, yet government reported CPI figures say that inflation remains under control.

In June of this year, the Bureau of Labor Statistics (BLS) reported that, for the past year, the rate of inflation as measured by the CPI was running at 2.7%. Meanwhile, some skeptical statisticians have reconstructed the CPI using the older formulas — a measure they view as more reliable — and have found inflation rates above 10% versus the BLS’s official 2.7% number.

What is wrong with this picture?

Peter Schiff will tell you exactly what it means for the reliability of government statistics — and the effect on your portfolio. Click here for his free report!

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