Lies, Damn Lies and Statistics

Look for George W. Bush and his cronies to inform you this week that the nation's core inflation rate increased a smidge last month (0.3%) to a 12-month average of 2.5%. Whew, that almost sounds manageable, but what they won't tell you is that the core inflation rate is a bogus statistic, one that excludes the costs of food and energy products, the two things upon which we depend -- and spend -- the most.

WASHINGTON -- Consumer prices took another sharp jump last month with high energy prices fueling a 0.8% monthly increase -- nearly double analysts' predictions -- and chalked up a 12-month inflation rate of 5.6%, the highest since 1991, the Labor Department reported today.

Ouch.