"Here I want to make an important point about core inflation. From the point of view of everyday Americans, core inflation is nonsense.Gas in the car, home heating and food on the table are large parts of the total spending of most Americans. Taking them out of the inflation calculation is something only the eggheads would do.When Americans provide for their families, they don’t pay “core,” they pay regular CPI."
I must confess that don't understand why the man on the street should be concerned if central bankers do find the notion of core inflation of any assistance to them when trying to decide if they should or should not increase interest rates because such notion does not exist for any other purpose. It certainly is not compiled to try to obfuscate the depth of the general price increases being experienced by consumers.
What I can see in posts like this is the existence of an unhealthy mind set, which is hard to understand when people say that they did studied economics. Actually, it is shocking.
