02-17-2022, 12:50 PM
(02-17-2022, 10:50 AM)GMDino Wrote: I freely admit I never looked much into how these numbers are created or determined but a quick search showed they do include fuel oil under "energy" for the CPI.
https://www.bls.gov/cpi/factsheets/household-energy.htm
And there were multiple articles dating back a year or so about how rising oil prices are a harbinger of inflation historically. Usually because it leads to higher production costs, transportation costs, etc.
The article itself never uses the word "massive". That is you "implying" what the article means.
It's super interesting when you start diving into the meat and potatoes on it.
"Massive" is my choice word. Without trying to go into details, a 2.8% increase is massive.
Crude Oil as a commodity is not tracked in CPI. It is not a component of Energy. It 100% has an impact on CPI via fuel prices, energy, and other things like transportation costs for industries.
For someone to say (paraphrasing and slight exaggeration) "Crude Oil is going to give us a bump in inflation that we haven't seen in 50 years" and then not publish the study? That's silly. It's why people don't trust CNN or FOX or MSNBC news reporting.
It could very well be a legit study, but there's no way to know since we can't see the study.
