Inflation is such a distant thought
Consumer prices in South Florida continue to fall.
The federal Bureau of Labor Statistics reported Wednesday that the consumer price index for the Miami-Fort Lauderdale metropolitan area fell 0.6 perccent through October, on an annual basis. That compares to a nationwide decline in consumer prices of 0.2 percent over the last year.
Consumer prices have either fallen or been flat in South Florida since this time last year.
Just remember that when the talking heads say inflation is about to come roaring back. We've got interest rates close to zero and fallling prices.
Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.
Comments
"Consumer prices have either fallen or been flat in South Florida since this time last year."
Harriet, you've fallen for government's CPI scam just like most uninformed US citizens.
Retail prices are still racing up, up, up, food(>15%/yr), health ins(+10%/yr), gasoline(?%&^), etc..
Don't your feel the pain when you go shopping at the local grocery store? Trust your instincts, or are you and outsourced reporter located in India?
Details about this and other bogus government statistic scams can be found at.
http://www.shadowstats.com/
and
http://www.shadowstats.com/article/consumer_price_index
Please learn something about the real world, (major incentive to lie to the governed), before promoting the government's deceptive practices.
Posted by: Tim | November 19, 2009 8:46 AM
Low interest rates are one of the causes of inflation, and one of the traditional ways to fight inflation is to raise rates. Government statistics such as inflation and unemployment are meaningless as they are both manipulated to understate both. The official inflation statistics, for example, don't consider food and energy, two categories with the most real inflation and significant expenses in our day to day lives. Of course another cause of inflation, low unemployment, is obviously not a problem as even the bogus official inflation rate is in the double digits. From what I've read, the real number is about 17%.
Posted by: Ben | November 19, 2009 9:59 AM
It's very disappointing to read this coming from you, Ms. Brackey, as your column generally gives good advice IMO. It's not a matter of if but when for inflation. Is inflation low or non-existent today? Yes. Is it a virtual certainty that we'll face an inflation crisis in the next decade? Yes. If there is a solution to the current financial problem that does not entail 1. Extreme (maybe hyper) inflation 2. Collapse of the dollar or and/or removal as international reserve currency or 3. Full or partial default of U.S. treasury obligations than I would be very interested to hear it.
Posted by: BCBGBN | November 19, 2009 10:23 AM