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To: NickSE who wrote (41340)	5/17/1999 12:27:00 PM
From: NickSE	of 86076

STREET SHOULD LEARN THAT IN WASHINGTON, THE NUMBERS DO LIE nypostonline.com [...] The government recently changed the way it calculates the inflation rate, and these alterations understate the true rate of inflation. So, as bad as the 0.7 percent jump in the CPI was, inflation is worse in real life. Goldman Sachs recently caught up with the issue, which prompted a Wall Street Journal story that said the drop in inflation isn't as big as it seems. In fact, a 1.7 percent jump in consumer inflation reported over the past 12 months would really have been 2.0 percent without the government changes. Washington may be saying it changed the inflation calculations because it believed there was a change in the economy that made the old way of doing things obsolete. But, in fact, by pulling down the inflation numbers, Washington saved itself from paying a lot more in Social Security and other fixed payments. So Wall Street benefited and old folks lost. [...]

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