On May 14, 2008, at 6:16 PM, B. wrote:
> So the consumer price index has gone up only 0.2%
> according to the BLS? Can this be true? Did not feel
> that way at the gas pump yesterday.
Ttheir seasonal adjustment factors expect a large increase gas prices in April. Since the increase was roughy in line with normal seasonal patterns, it was adjusted away. It does show a large increase over the last few years, of course - up 180% since early 2002.
Also, gas accounts for only 5% of the CPI (which is roughly its share of the average household's expenditures). People give it an outsized importance because it's something they buy frequenly.