Carter territory. I have a little difficulty believing inflation is 8%. I think it’s actually higher, but for the sake of this post, we’ll call it 8%. By the way, it will get worse under current policy.

Forget the modest 3.1 percent rise in the Consumer Price Index, the government’s widely used measure of inflation. Everyday prices are up some 8 percent over the past year, according to the American Institute for Economic Research.

The not-for-profit research group measures inflation without looking at the big, one-time purchases that can skew the numbers. That means they don’t look at the price of houses, furniture, appliances, cars, or computers. Instead, AIER focuses on Americans’ typical daily purchases, such as food, gasoline, child care, prescription drugs, phone and television service, and other household products…

The group maintains that this index better measures the real-world impact of price changes, particularly for people on a budget. And, largely as the result of the recent run-up in gas prices, this “everyday price index” (EPI) suggests that Americans are being pinched far more tightly than the official inflation measure would have you believe.

Over the past year, the EPI is up just over 8 percent, according to the economics group. The biggest factor: Motor fuel and transportation costs are up 21.06 percent from year-ago levels. The cost of food, prescription drugs, and tobacco also have increased faster than the government’s inflation measure, rising 3.56 percent, 4.21 percent, and 3.4 percent, respectively.

Americans nationwide continue to lose faith in the Federal Reserve Board to keep inflation under control, with the number who say they are paying more for groceries now at an all-time high.

The latest Rasmussen Reports national telephone survey of American Adults shows that just 31% are at least somewhat confident that the Fed will be able to keep inflation under control and interest rates down, and that includes only eight percent (8%) who are Very Confident. Sixty-five percent (65%) are not confident the Fed can keep inflation and interest rates under control, with 25% who are Not At All Confident.

Prior to the latest survey, overall confidence in the Fed to handle inflation and interest rates ranged from a low of 32% to a high of 41%. The number who hold no confidence at all is now at its highest level in nearly two years.

This lack of confidence stems partly from the fact that 93% of adults report paying more for groceries now than they did a year ago, the highest finding to date. Only four percent (4%) say they’re not paying more for groceries now compared to a year ago.

Adults nationwide remain heavily concerned about inflation, and the number who says they are paying more for groceries now compared to a year ago has reached a new high.

The latest Rasmussen Reports national telephone survey of American Adults shows that 91% report they are spending more money on groceries than they were one year ago. Only five percent (5%) say they are not paying more for groceries now.

The number paying more is up from 87% in April and is the highest level measured in more than two years. Just over a year ago, 75% felt that way.

Eighty percent (80%) of Americans believe they will be spending even more on groceries in a year’s time, up three points from the previous survey and also the highest result found since April 2009. Only three percent (3%) believe they will be spending less money on groceries one year from now. Thirteen percent (13%) expect to be paying about the same amount.

Eighty-four percent (84%) of adults are at least somewhat concerned about inflation, including 53% who are Very Concerned.

Ahhh… the good old government! They don’t like to count certain items because it makes the politicians look bad, in particular, Barack Obama. He has Jimmy Carter-like inflation numbers if you count inflation the way it should be counted, just like it was under Jimmy Carter.

If Carter could have thrown out items he didn’t like, his inflation numbers would be just as low as everybody else’s.

The hard truth is, and we all know it because we are all consumers, Barack Obama is enjoying Jimmy Carter-like inflation numbers.

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….

“Near-term circumstances generally have continued to deteriorate,” said John Williams, creator of the site, in a new note out Tuesday. “Though not yet commonly recognized, there is both an intensifying double-dip recession and a rapidly escalating inflation problem.  Until such time as financial-market expectations catch up with underlying reality, reporting generally will continue to show higher-than-expected inflation and weaker-than-expected economic results in the month and months ahead.”

With the current regime in the White House and Senate, things will continue to get worse. We need to change that next year.

Concern about inflation is increasing, as Americans say overwhelmingly that they are now paying more for groceries and expect to pay even more for them in the future.

A new Rasmussen Reports national telephone survey finds that 56% of Adults are Very Concerned about the threat of inflation. That’s up from 52% a month ago and 48% at the first of the year.

In addition to those who are Very Concerned, another 28% are Somewhat Concerned about the threat of inflation. Just 14% are not very or not at all concerned.

Eighty-seven percent (87%) of Americans say they are paying more for groceries now than they were a year ago. That’s up 12 points from last April.

Looking forward, 77% think they will be paying more for groceries a year from now. That’s well above the range over the past two years.