One of the funniest lines I’ve read (and continue to read) in articles discussing economic affairs has to do with inflation:

Core inflation, which excludes energy and food, was better behaved last month, rising by just 0.2 percent, down from a worrisome 0.5 percent rise in February.

(Inflation jumps, surprising analysts, Times Argus, 04/16/08)

Think about this for a moment. Just what group of people view home heating, gasoline, bread and milk as something other than “core”?

The answer is simple. It’s those for whom purchasing basic subsidence items is no chore, and this group in general does not include the folks who actually are producing these necessary goods.

Oh … and “core” inflation does not include medical cost or your insurance premiums or the various wars our government has involved us in or many other things that affect the great majority of us on a day to day basis.

Why doesn’t our government just define “core” inflation as the price of laptop computers and be done with it?