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Message: Fed's Core Inflation a Misnomer

Fed's Core Inflation a Misnomer

posted on May 02, 2008 01:30AM

One of the Fed's principal guidances "Core Inflation" is a misnomer designed to manage public "perceptions" of low and stable inflation. The real "Core Inflation" Food & Energy is out of scope.

Within the consumers representative spending basket of goods & services, the food and energy bills represent the major cost increase components, "the core inflation", hitting the consumers where it hurts and leaving them without recourse.

The overall U.S. inflation should be close to what is measured in the UAE with the US$ pegged dirham that is approx. 12% p.a. inflation, mostly imported, with no energy inflation, subsidized, and zero taxes, no tax progression inflation.

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