What's the 'real' level of price inflation, in the various parts of the broken western world? It's hard to figure it out from 'official' government figures, because the baskets they use for their CPI figures usually exclude anything which goes up in price (such as private school fees), include everything (such as computers) which drop in price, and which keep substituting anything left over which has the temerity to rise in price (replacing fillet steak with sirloin steak, then rump steak, then hamburger steak, etc., as time goes by and as people substitute one product for another in their personal shopping baskets). The Mogambo Guru thinks commodity prices are perhaps a more accurate guide than 'official' CPI figures. As part of his Official Mogambo Duties (OMD), he thus duly informs us that one major basket of commodities has risen over 50% in price since January 2009. It then becomes a proof of whether you should be allowed to have children as to how you're going to respond to this news.
HT to Carsten
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