Note the red. "Owner's Equivalent Rent" is 23.7% of the inflation index. Yet the claim is that the price index for an owned house has advanced 2.3% over the last 12 months.
Were that to be the recorded number instead of the abject fraud of OER 12 month reported inflation would be over 10% both in headline and core, since "food and energy exclusions" would make no real difference with nearly one quarter of the total being in residential housing.
This in turn would mean short-term interest rates should be running about 11% right now, with the ten year and mortgages being about 12% with the long bond at about 13-15%.
This is deliberate fraud, it is suborned and ordered by Congress which has done this for the explicit purpose of being able to continue to demand easy money policies from The Fed and spend that which they refuse to tax first and which they then get and causes real poverty in real people.
This is not a minor little detail or something that only hoses a few for the benefit of the many. It in fact screws nearly everyone and if the American public had not been smoking bong hits in math class for the last 30 years and paid a bit of attention to any of this the entire federal and state government apparatus, along with all the sycophants in the media and "commerce" that feast on you, the people, would have been thrown into shark-infested waters long ago.
But muh legal weed dude, it's all good, maffs is racist and all that matters is the color of your skin -- never mind the intentional fraud and lies you racist pig.
You get -- and deserve -- what you tolerate.
I've been pointing this fraud out for over a decade right here in this column.
Enjoy your own destruction since it is, in fact, exactly what you demand.
Oh, and have another bong hit.