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[i习作temp] 甚解小组【task2】原文抄抄抄 [复制链接]

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发表于 2011-2-5 06:14:41 |只看该作者 |倒序浏览
Why Low Inflation Seems High  [size=2em]from USN
[size=2em]
[size=2em]If he did, the Federal Reserve Chairman would probably know that a lot of everyday items have gotten more expensive lately. Yet the Federal Reserve—whose primary job is to control inflation, along with unemployment—isn't worried at all about rising prices. If anything, the Fed is worried that inflation is too low, not too high. "Measures of underlying inflation have been trending downward," the Fed reported in its
latest update on the economy. "Longer-term inflation expectations have remained stable."

[size=2em]

[size=1.3em]The Fed, of course, is technically correct. The overall inflation rate is just 1.5 percent, and not long ago, it seemed like deflation—a more pernicious problem than inflation—might be the Fed's biggest challenge. But the Fed's views don't entirely reflect the real world. For many consumers, inflation is in fact considerably higher than the Fed and many economists make it out to be.
[size=1.3em]The first reason is gas prices, which have an outsized effect on the psyche of consumers. Few goods gyrate as wildly in price as gasoline, which peaked at $4.05 per gallon in the summer of 2008, plunged to $1.60 six months later, and now stands at about $3.10. With prices posted on practically every corner, gas represents a totemic index of consumer attitudes: confidence rises and falls in inverse proportion to pump prices.

[size=1.3em]It's not just a psychological effect, though. Gas is a staple item for many people, so when the price goes up, it's hard to save money by buying less of it; people need to commute to work and drive their kids to soccer practice, no matter the price of fuel. And it turns out that the cost of other must-have items has been rising as well. Many of the items getting cheaper, meanwhile, are conveniences that are nice to have, but possible to live without.

[size=1.3em]The government measures the cost of more than 200 items every month when computing the consumer price index, which is the official gauge of inflation. To determine how inflation affects overall business conditions, economists often measure "core inflation," which excludes the prices of volatile items like food and energy. But to measure the effect on consumers, that makes no sense, since most people can't eliminate food and energy expenditures from their monthly budget. Food and energy, in fact, are major expenses for a lot of people, and for lower-income people more than others.

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