Inflation

As Elon Musk Questions Inflation Numbers, Economists Say CPI Understates Inflationary Environment

As Elon Musk Questions Inflation Numbers, Economists Say CPI Understates Inflationary Environment
People shop at a grocery store in Monterey Park, Calif., on April 12, 2022. Frederic J. Brown/AFP via Getty Images
Andrew Moran
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During Tesla’s first-quarter 2022 earnings call on April 20, billionaire Elon Musk noted that “the official numbers actually understate the true magnitude of inflation,” citing some suppliers raising costs by as much as 30 percent for parts.
In December, the billionaire founder of Pershing Square Capital, Bill Ackman stated in a tweet that official statistics have understated raging inflation figures.
Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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