The Daily Data Dive: Actual Consumer Goods Inflation Vs. BLS and Fed Fantasy

Buried deep in the data tables of the BLS’s Producer Price Index (PPI) for May is an item that reveals the long running fallacies of the CPI and the Fed’s favorite inflation fantasy, the BEA’s Personal Consumption Expenditure price index (PCE). The revealing item is the PPI for finished consumer goods. It represents the price changes that retailers pay…

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