New York Times — Interest payments aren’t counted in the inflation rate. This is a fact that a lot of readers find confusing, if not angering, especially now, when rates are high on mortgages, auto loans and credit cards. I get lots of mail from people saying the absence of interest rates from the Consumer Price Index seems like sleight of hand by the government, the economics profession or both.
So I probably won’t win a lot of friends by saying that I think the way the government economists do things is correct. But when they’re right, they’re right. READ MORE