It doesn't take an economist to see that inflation is crushing shoppers and families. Price rises are on the edge of getting out of hand entirely. Even the Commerce Ministry has finally become alarmed. After reporting the highest inflation rate in a year last month, the ministry warned of possible shortages of what the bureaucrats call "farm products". This is what regular people call food.
The ministries and departments are trained to massage, spin, "average out" and generally manipulate figures to the government's advantage. So consumers learned last week, for example, that the cost of shopping in the past year has risen by 2.45%. (In March, the same department reported prices rose by 2.11% since 2013.) The government's figure is laughable. Anyone knows that prices of life's necessities have risen in double figures over the past year.
The mundane and laughable government attempts to pass off major price rises as minor, manageable inflation are bad enough. Government accountants, like all accountants can make numbers say whatever is pleasing to government ears.
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