The "official" inflation rate in the U.S. in 2016 was .3%. How could that be? My rent went up 3%. That's my usual annual rent rate increase. That's 10 times the official government inflation rate. And I'm spending more at the supermarket. And my prescription drug plan premium is going up substantially in 2017. And one of my medication co-pays is going up 1400%! Hey, Washington, what about MY cost of living? You think it went up only .3%? According to the Bureau of Labor Statistics the inflation rate for Los Angeles (where I live) was 1.8% in 2016, 6 times higher than the national inflation rate. And, in my opinion, the REAL inflation rate across the U.S. was probably more like 3-5%.
And, to add insult to injury, social security cost of living payment increases are based on inflation and thus, payment benefits are going up .3% in 2017. On $1,000 that's an increase of $3. $3. A month. That's like a 0 percent cost of living increase.
.3% annual inflation? Really, Washington? That's as phony as a $3 bill. A .3% official annual rate of inflation, and a cost of living increase of .3%? That's a joke. And the joke's on us.
