The Federal government is claiming that inflation is only 5.3 percent per year. This is despite the fact that energy is up 25%, gasoline is up 42%, and car prices are up 31.9% from a year ago. Home prices are increasing at a record pace, with June seeing an 18.6% rise– not an annual rise, an 18.6% rise in just one month. Year over year, home prices are up by about 31% year over year. (pdf alert)
We are being mislead. Anyone who buys anything and pays attention to prices knows it.