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The Fed's inflation gauge isn't realistic, critics say


Dean Calbreath, San Diego Union-Tribune


Posted: Friday, April 18, 2008


You've seen the cost of a gallon of premium gas breach the $4 mark at local stations. You've seen the price of milk, eggs, corn and bread surge at your supermarket. Yesterday, the government confirmed that prices are continuing to rise at a very brisk pace....

Although the Labor Department does not release monthly data on regional inflation, its annual data show that in the past five years, consumer prices in the county have jumped 22 percent, compared with 16 percent nationwide.

“The three main reasons were our housing prices, gas prices, and electricity and utility rates, which were all rising faster than the national average,” said Kelly Cunningham, an economist with the San Diego Institute for Policy Research.

 http://www.signonsandiego.com/news/business/20080417-9999-1n17inflate.html

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