The Ruling Classes Are Inflation Deniers And The Ship Of Fools Sails On – OpEd

By Kevin Van Elswyk*

Consumers’ behaviors cause the consumer price index (CPI) broad heading of food to understate the real or wallet level of inflation. It is much worse than the top line statistic—it is a serious offense to the poor and fixed-income citizens.

The CPI measures nominal dollar changes based on...