Once again, the devil is always in the details.
US Inflation Rate: Inflation Using Volcker-Era Methodology Nearing 10% - CNBC
Published: Tuesday, 12 Apr 2011 | 5:18 PM ET
After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation. Using the methodology in place at that time puts the CPI back near those levels.
Inflation, using the reporting methodologies in place before 1980, hit an annual rate of 9.6 percent in February, according to the Shadow Government Statistics newsletter.
