CPI question - Is this a joke.. bad data?

For some reason I misread CPI earlier today.

I re-checked and nearly shit myself.


CPI m/m 0.3% expected 0.4% lastmonth 0.0% actual
CPI m/m 0.2% expected 0.3% lastmonth 0.0% actual

Are you fucking kidding me. at first I thought the estimates were the actual. Then I just regalanced and saw the our government reported that there is NO INFLATION!!

Im suprised the dollar is only off as much as it is. How the hell can anyone take our economic numbers seriously ever again.

 

Yeah. It's a big joke. Bad part is, the joke is on us, those of us that live in the U.S. at least.

 

Because people understand that the CPI is not an aggregate index of crude, corn and wheat futures but a diversified price index of goods and services.

 

And therefore is not a good indication of inflation. Unless you're not planning on eating and driving.

 

If you checked the average expenses of any one person over the course of 10 years you'd see there's a lot more to it than purchasing a carton of milk or a gallon of gasoline. There are many more places people spend money at than supermarkets and gas stations.

Airline tickets, clothing, housing, getting a hair cut, household appliances, gym membership, cinema tickets, school tuition etc. etc.

 

We'll looks like ForEx markets is finally starting to tell the truth about inflation.

 

So, do you believe that the CPI and Core CPI the way they are currently calcuated are accurate guages of the current inflation environment?