Here’s a surefire sign of inflation; the price of a bacon cheeseburger has jumped 7.7% over the last year. Now that smarts. Excerpt:
While traditional indicators show little price pressure, the fabled Bacon Cheeseburger Index, which tracks the cost of the gastronomic delight of the same name, is on an aggressive path higher.
In fact, the price has jumped 7.7 percent over the past year, according to calculations from brokerage Convergex, using government consumer price index data.
The biggest contributor to the surging price was a more than 17 percent jump in the cost of ground beef. Costs for bread, cheese and, to a lesser extent, bacon are on the rise as well. White bread posted an annual gain of 3.4 percent, bacon rose 0.2 percent and cheese was up 7.3 percent in February, according to the Bureau of Labor Statistics.
Will creeping inflation make America’s favorite food icon unreachable to millions of hardworking (or even not-working) American citizens?
No, but seriously, folks; the Imperial Federal government has been publishing a largely fraudulent inflation index in recent years. Fraudulent how? It excludes costs of fuel and foodstuffs from the index of inflation. Fuel cost have been swinging wildly this year, but food costs have been slowly creeping higher, especially when compared to stagnant wages.
Meanwhile, pols in the Imperial City continue every anti-growth policy they’ve cooked up in the last couple of decades. Remember what the definition of insanity is?