Note: One of the main measures the the Fed uses to evaluate how well it is doing is core inflation which excludes the cost of food and energy.

Inflation? Only If You Look At Food, Water, Gas, Electricity And Everything Else
Submitted by Tyler Durden on 06/20/2014 21:16 -0400

Submitted by Michael Snyder of The Economic Collapse blog,

Have you noticed that prices are going up rapidly? If so, you are certainly not alone. But Federal Reserve chair Janet Yellen, the Obama administration and the mainstream media would have us believe that inflation is completely under control and exactly where it should be. Perhaps if the highly manipulated numbers that they quote us were real, everything would be fine. But of course the way that the inflation rate is calculated has been changed more than 20 times since the 1970s, and at this point it bears so little relation to reality that it is essentially meaningless. Anyone that has to regularly pay for food, water, gas, electricity or anything else knows that inflation is too high. In fact, if inflation was calculated the same way that it was back in 1980, the inflation rate would be close to 10 percent right now.

But you would never know that listening to Federal Reserve chair Janet Yellen.

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Inflation is a hidden tax that all of us pay, and it is systematically eviscerating the middle class.

More including video and links:
http://www.zerohedge.com/news/2014-06-20...everything-else