Sunday, May 18, 2008

More math-checking the news.

James Taranto of "Best of the Web Today" pulles out his own calculator on an article about food prices.


America's Insatiable HungerThe Pioneer Press of St. Paul, Minn., brings more dire economic news:

Food inflation hit an 18-year high in April, with grocery prices rising 1.5 percent for the month, the government said Wednesday. Prices rose in every aisle--dairy, breads, meats, beverages, fruits and vegetables. It means $53 more a month to feed a family of four with a typical food budget.


This would mean that before the 1.5% increase, the typical family of four spent $3,533 a month, or a hair under $42,400 a year, on food. No wonder America has an obesity epidemic!



And yes, I checked Taranto's numbers myself.

More reason why you should have a calculator at your side when reading the news.

Food prices are going up, but you're not going to get a good gauge on the magnitude of the increase, not from a publication that doesn't know how percents work, or sloppy enough to not check such things.

No comments: