Outrageous raging inflation, and the distortion of CPI

Published by
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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