Peruvian Bull on Twitter: “The Fed is solely responsible for this disaster. Their plan to tighten by 0.25% is akin to using a squirt gun to fight a house fire.

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“…February CPI print today at a shattering 7.9%. If you use the real unadjusted calculation from 1980, we are already well above 15%.”

Price increases over last year (CPI report)

  • Used Cars: +41.2%
  • Gasoline: +38.0%
  • Gas Utilities: +23.8%
  • Meats/Fish/Eggs: +13.0%
  • New Cars: +12.4%
  • Electricity: +9.0%
  • Food at home: +8.6%
  • Overall CPI: +7.9%
  • Food away from home: +6.8%
  • Apparel: +6.6%
  • Transportation: +6.6%
  • Shelter: +4.7%

Shelter is the single biggest component of CPI (33% of Index) and is still being wildly understated (@ +4.7% YoY) with rents up 18% over the last year and home prices up 19%. Actual inflation rate is much higher than 7.9%.

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Source: www.bls.gov/news.release/pdf/cpi.pdf

h/t welp007

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