CPI Says You’re getting Poorer and Next Month BLS will Stop Publishing the Report
For decades the Bureau of Labor Statistics (BLS) has published the monthly Consumer Price Index (CPI) and the Real Earnings (RE) reports as Economic Indicators and part of the Economic News Release Series. The May 2017 CPI increased 0.2 percent in April after falling 0.3 percent in March. In short CPI is a measure of price changes for the same goods and/or services.
During this same period RE increased .01 percent, meaning the typical citizens buying power when offset against CPI declined when controlling for the same basket of goods. Meanwhile Governor’s across the nation continue spouting how unemployment is declining without mentioning wages are losing ground to inflation.
As an example Virginia’s governor Terry McAuliffe held a press conference espousing 2017 unemployment improvements. While failing to mention he’s handing out bread from his kitchen to workers who can’t afford to eat but are employed. After closing his hunger kitchen line for the day the governor found several workers kids licking and drooling over his dog spot. Sadly he had to tell the kids to back off before spot would become lunch.
Starting in June 2017 the CPI report will no longer be published. Instead in January 2018 BLS will likely introduce a slimmed down uninformative replacement report that’ll dumb down the long held valuable statistics published by the BLS. Maybe it’s time to be dumber, after all an uninformed electorate won’t get angry, because everything will sound good if sold correctly. More can be found at https://www.bls.gov/bls/news-release/realer.htm and at https://www.bls.gov/cpi/