Tyler Durden: While the Fed may continue to claim inflation is non-existent, except for those “few” Americans who can’t afford a house and thus have to rent (incidentally, in New York the average rent just hit a record), inflation is all too present for those other Americans who still enjoy occasionally eating eating beef as opposed to its sawdust-inspired substitute found in various fast-food venues across the US.
According to the BLS, after a torrid 2014, in which there was a 24% surge in beef prices which central planners blamed on everything except their policies, in May the Beef and Veal price index just rose to a new all time high of 260.8, up 12.3% from a year ago, and up 30% in the past two years.
So yes, aside from soaring rent prices and costs of food that won’t actually force you into an early grave, there is almost no inflation anywhere.
Well, except gasoline prices too. After dropping sharply through the end of 2014 and in January, they have unambiguously surged pretty much in a diagonal line ever since.
This article is brought to you courtesy of Tyler Durden From Zero Hedge.