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Wednesday, November 24, 2010

No inflation

The prices on the attached graph were downloaded from the Bureau of Labor statistics from the U.S Goverment web site.  The commodities are electricity, oranges, tomatoes, bananas, apples, milk, eggs, chicken, ground beef, bread, gasoline, and local utilities.

As can be clearly seen from the graph, prices have been falling to the same point as 2005, not rising as Glenn Beck has been saying.  What is not included on this graph are the things people don't buy on a regular basis which are falling more than market basket items.  Such items as computers, TVs, appliances, internet services, telephone, etc. have fallen dramatically in price.

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