Hidden Inflation: Why Prices Are Rising Faster Than You Think… Money Morning Staff Reports

Rising prices are hitting U.S. consumers a lot harder than the U.S. Federal Reserve – or the U.S. government – would have us believe. The government-issued consumer price index (CPI) for January showed that “core inflation” – which includes prices for all items except food and energy – was up only 1% from the same month the year before.

By excluding food and energy prices, as volatile as they may be, the CPI fails to convey the pain that rising prices are inflicting on American households. Indeed, some economists have claimed that the true rate of inflation is closer to 8% or 9%.

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