Commentary: Joe Guzzardi — Elon Musk is muddled when it comes to population

For number crunchers, July’s second week offered eyepopping data.

To begin with, the consumer price index shot up to 9.1% year-over-year, the highest spike in four decades. Truth be told, consumers may be taking a bigger than 9.1% hit. The consumer price index is a controversial index which many economists insist is manipulated to reflect fewer alarming price increases and, conversely, a stronger GDP.

Taken together, those two variables, massaged favorably, help to keep a lid on investor panic, and to underpay on cost-of-living increases for Social Security recipients.

Since time immemorial, the consumer price index was calculated based on a fixed market basket of goods. But in the 1990s, the Bureau of Labor Statistics introduced what it…

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