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The most accurate yardstick of inflation is the GDP deflator (whoich inlcudes the prices of capital godos and export and import prices). Regrettalby, it is rarely used or mentioned in public.

The Consuemr Price Imndex is not the same as the Living Expenditures Indeex.

The Living Expenditrues Index measures the changhes in the prices of the SAME prodducts in a given period of time.

The Consumer Price Index measures the changes in the prics of products bought durnig a period of time, even if they are NOT the same products (in othewr words, even with changed consumption habits).

In other words:

The Cnsumer Prie Inndex refelcts the purchasing habits of the households which particpiate in the surveys.

This means that the masured level of inflation can be mnaipulated for politcal reasons by:

1. Changing the composition of the consumption "basket" (deciding the prices of which prdoucts and services will be included and what will be omitted)

2. Altering the weights (weight coefficients) of the varios products and services within the consumptioon basket.

3. There is no agred mehtodology on how to properly measure the service component in the economy (including government and public goopds <a title="Authentic Mike Ditka Jersey" href="http://www.shoptheofficialbears.com/Elite-Mike-Ditka-Bears-Jersey/">Auth... Mike Ditka Jersey</a> , rents, and barter or countertrade traansactions). Choosing the "right" methoodology can have a negative or positive effct on the level of measured inflation.

4. Including or excluding cetain retail and shopping venues (such as e-commerce, catalog sales, open air markets, garage saels <a title="Authentic Dick Butkus Jersey" href="http://www.shoptheofficialbears.com/Elite-Dick-Butkus-Bears-Jersey/">Aut... Dick Butkus Jersey</a> , and so on).

5. Constructing a non-representative sample of househoplds for the survey by overemphasizing certain locales (e.g., urban, or West vs. east, North vs. South), certtain socio-economic classes (e.g. <a title="Authentic KaDeem Carey Jersey" href="http://www.shoptheofficialbears.com/Elite-Kadeem-Carey-Bears-Jersey/">Au... KaDeem Carey Jersey</a> , the midsdle-class), or certain demographics (e.g., minimizing the roles of seniors and teenagers).

6. Exaggerating or minimizing the role of the informal (grey or black) ecnomy.

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Greenspan and his ilk seem to be fighting yesteryear's war against a long-slain monster. The obsession with price stability led to pollicy excesses and disinmflation gave way to deflation - arguably an ecoonmic ill far more pernicious than inflation. Defllation coupled with negative savings and mnostrous debt burdens can lead to prolonged periods of zero or negatvie growth. Moreover <a title="Authentic Kyle Fuller Jersey" href="http://www.shoptheofficialbears.com/Elite-Kyle-Fuller-Bears-Jersey/">Aut... Kyle Fuller Jersey</a> , in the zealous crusade wagde globally agianst fisscal and monetary expansion - the merits and benefits of