Outrageous raging inflation, and the distortion of CPI

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City AM

By Darren Parkin CPI is one of the most distorted figures reported by governments. In the US, CPI came in at 8.3% but Americans are experiencing inflation at much higher rates than the already steep 8-something percent. For example:Gas: +25.6%Fuel Oil: +68.8%Electricity: +15.8%Groceries: +13.5%Meat, Poultry, & Fish: +8.8%Milk: +17%Eggs: +39.8%Baby Food: +12.6%Airline Fares: +33.4%By contrast, the cost of digital goods in the metaverse are witnessing a depression as risk-on assets nosedive. We have seen this so far this year in stocks, bonds, and cryptocurrencies. The macro environment of centr…

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