As Elon Musk Questions Inflation Numbers, Economists Say CPI Understates Inflationary Environment

Click here to read the full article.

During Tesla’s first-quarter 2022 earnings call on Wednesday, Billionaire Elon Musk noted that “the official numbers actually understate the true magnitude of inflation,” citing some suppliers raising costs by as much as 30 percent for parts.

In December, the billionaire founder of Pershing Square Capital, Bill Ackman posted in a tweet that official statistics understated raging inflation figures.

“Housing inflation is unlikely to abate based on supply and demand trends,” Ackman wrote. “The inflation that households are actually experiencing is raging and well in excess of reported gov’t statistics.”

The U.S. annual inflation rate surged to 8.5 percent in March, with nearly everything higher than a year ago. But is this the real inflation number in the United States?

Continue reading here.

Scroll down for comments and share your thoughts!

What do you think?

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

Chip Shortage Leads Major Firm to Scavenge Semiconductors from Old Washing Machines

Florida prosecutor reduces violent crime through crackdown on repeat offenders