And Greenspan says even that low a figure may overstate true inflation.
2.
Consumer groups have complained that true inflation rates are far higher.
3.
This necessarily introduces distortion, and can lead to legitimate disputes about what the true inflation rate is.
4.
Federal Reserve Chairman Alan Greenspan said repeatedly over the past year that the consumer price index may overstate true inflation.
5.
Experts have long agreed that the CPI overstates true inflation, particularly for the basket of goods typically purchased by seniors.
6.
Economists believe the 48.5 percent weighting currently given to the food, beverage and tobacco commodity group distorts the true inflation picture.
7.
Economists believe the 48 . 5 percent weighting currently given to the food, beverage and tobacco commodity group distorts the true inflation picture.
8.
If those figures aren't impressive enough, consider that most economists agree the CPI overstates the true inflation rate by between 0.5 percent and 1.5 percent.
9.
Reducing the CPI, which most economists say overstates true inflation, would save the government billions of dollars and make the task of balancing the budget easier.
10.
Some lawmakers in Congress say the index overstates true inflation, costing the federal government billions of dollars a year in excess cost-of-living adjustments that are based on the CPI.
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