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Bill Ackman Says Official Stats Understate ‘Raging’ Inflation

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Bill Ackman thinks that reported U.S. inflation is understated, even though Labor Department data released Friday showed prices in November rising at their fastest pace since 1982. The billionaire founder of Pershing Square Capital Management said that the consumer price index increase could have been as high as 10.1% had a “more empirical measure” of housing costs been used.