The U.S. Bureau of Labor Statistics’ July CPI data has come in lower than expected with a year-over-year increase of 8.5%. Inflation Economics
, Stefan Rust, says the country’s inflation figures are not accurate and he believes true inflation is running at 9.6% today.indicates that at the time of writing, the rate is 9.61%, which is still down from the 10.5% the Truflation Index recorded in July. Further, it is still down from the 11.4% annual peak the Truflation Index recorded in March.“First, it was transitory. Next, it was manageable.
This means Americans are still struggling to make ends meet as they watch the value of their money erode at over 8% per year. As bad as all this seems, however, the true inflation picture differs from the above. Today, the Truflation index is showing that US inflation is running at 9.6%. This is down from 10.5% in July, and an annual peak of 11.4% in March, reflecting the same downward trend that the Bureau of Labour Statistics figures suggest.
“And as I mention every time I talk about CPI, it’s even worse than these numbers suggest. This CPI uses
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