The Obama Administration released its analysis of the cost of living for February today, but the report contains some glaring omissions. The Feds claim that the cost of living rose a mere 0.4 percent.
While the report admits that gasoline prices rose sharply, the government stopped including energy costs in its calculation for the inflation rate in the early 1990s.
Food is also excluded from the rate of inflation.
These factors led market ticker guru Karl Denninger to state that the report is a joke.