How the CPI Masks Inflation
Investment broker and financial commentator Peter Schiff says the public is right to distrust the CPI or Consumer Price Index. It is no longer a tool to accurately measure inflation, but an instrument of propaganda the government uses to hide accelerating inflation from the public and financial markets.
To demonstrate his point, Schiff created a basket of 20 goods that consumers regularly purchase, ranging from eggs and beer to gasoline and housing rentals. Prices for these items rose 44.3% during the last decade, but the government reported a rise in the CPI of just 27.5% during the same time frame.