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<p>[QUOTE=&quot;medoraman, post: 1400763, member: 26302&quot;]I don&#039;t think its a clear cut as that. Many non-keynsian economists do not agree with a purely monetary supply definition of inflation. To me, inflation is self evident, it is how many more units of currency does it take to buy a certain basket of goods this year versus last. To ignore price increases or demand in a definition of inflation is asinine as it completely destroys the usefulness of the term.</p><p><br /></p><p>Take a total basket of predefined goods, and if it cost $1000 last year, and $1050 this year, THAT is 5% inflation. Anything else is white tower intellectual postulation that does not help real people deal with the real economy.</p><p><br /></p><p>Now, does the government play games with inflation figures? Of course, I have been arguing that for 20 years now. I do not think its as severe as the graph posted earlier, nor do I believe the official numbers. The point was brought up by Cloud you have to know the source of your info. While the higher figures were done by those who wish you to buy their service, the official figures are done by the Feds who also have a vested interest. The lower the number they report, the less is cost them in CPI increases. Both parties are vested interests.[/QUOTE]</p><p><br /></p>

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