Jim Rogers: 'US government's inflation data is a sham'

http://www.telegraph.co.uk/finance/economics/8187875/Jim-Rogers-US-governments-inflation-data-is-a-sham.html

Leading investor Jim Rogers has attacked the US government's inflation data as a "sham" that is causing the central bank to massively understate price pressures.

"I expect interest rates in the US to go much, much, much higher over the next few years," he said, adding that he is betting against US Treasuries.

The core personal consumption expenditure index, which strips out food and energy costs, is the Fed's preferred measure of inflation.

"Everybody in this room knows prices are going up for everything," Mr Rogers told the Reuters Summit.

The investor remains bullish on commodities given the debt crises facing many country across the world.

"If the world economy gets better, commodities are going to go up in price because there are shortages. If the world economy does not get better, you should own commodities, because [central banks] are going to print more money," he said. "Real assets are the way to protect yourself. 

Mr Rogers also predicted that the price of gold will rise eventually above $2,000 an ounce. The price of spot gold hit a record high of $1,430.95 an ounce before falling back to close on Tuesday at $1,409.35.