The Government Says There’s No Inflation – Except for the Things People Are Actually Buying

Food and rent are going up, while gasoline prices and hotel rates are falling

by Rex Nutting
Market Watch

The things that we are still spending money on — food, rent, booze and video streaming — are going up in price as the coronavirus pandemic wears on. The things that we aren’t buying as much of — gasoline, clothing, transportation and hotel rooms — are going down in price.

And the government says there’s no inflation.

The Bureau of Labor Statistics reported Wednesday that the consumer price index fell 0.1% in May, driven by deep discounting on energy, car insurance, clothing and public-transportation prices. The so-called core rate of inflation, which strips out volatile food and energy prices, also fell 0.1%; it marked the first time the core rate has fallen three months in a row.

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