WHAT IS THE REAL INFLATION RATE

If you have been following my blogs you will know that I have been concerned that because of the national debt that inflation will be raising its ugly head.  Now according to CBS Report: U.S. Inflation Is Really ‘around 8%' the rate of inflation is quietly creeping up.

(CBS News) -- CBSnews.com reports, "Forget the modest 3.1% rise in the Consumer Price Index, the government's widely used measure of inflation. Everyday prices are up some 8% over the past year, according to the American Institute for Economic Research." 

According to the story, the AIER study looked at Americans' typical daily purchases, "such as food, gasoline, child care, prescription drugs, phone and television service, and other household products."  The story notes that the biggest factor is motor fuel and transportation costs, which "are up 21.06% from year-ago levels."