Why do the “official” numbers on food inflation state it’s gone up by tiny amounts like 8%, 19%, 11%, etc. but most of the foods I see has gone up by a minimum of 50%, 100%, 80%?
In: Economics
It’s an election season and they can’t have high inflation. If you look at my POs going back several years, the food costs have increased by staggering amounts. And, as usual, some idiot will say “well that’s only anecdotal” while just blindly believing the government’s data which, if anyone just opens their eyes, can see is absolute shit. It’s not as bad as peak covid obviously, but we’re way past what the prices were on most staple items. But as others have pointed out, and a fact that remains true, is that it looks at a basket of goods. So understanding what’s in the basket plays a huge role. I can massage the numbers to say that inflation is 60% or I can make it 4%; this administration is choosing to underreport and drastically downplay it, as any administration would in an election season. The truth is, we’re all pretty fucked regardless of food costs.
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