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IPFS News Link • Ron Paul Says...

The Inflation and Tax Assault on the American People

• http://www.ronpaulinstitute.org by Ron Paul

This follows a 0.1 percent increase in December. The total increase over the last 12 months is 6.4 percent. The official government statistics, which are manipulated to understate the true rate of price inflation, show even greater increases in some costs. Over the last 12 months, food prices increased by 10.1 percent, energy prices increased by 8.7 percent, and shelter costs rose by 7.9 percent.

The government's figures also record a 0.2 percent decline in real wages in January and a 1.8 percent decline from a year earlier. Keep in mind that actual real wages losses have been larger because the government's real wage numbers are calculated using the government's understated price inflation numbers. The Federal Reserve-caused decline in purchasing power disproportionally harms middle- and lower-income Americans, many of whom were already living paycheck to paycheck before the Federal Reserve's unprecedented money creation caused especially large increases in price inflation.


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