In addition to the math bullshit I want to point out (again) that government can fudge the figures further by saying "electronics got cheaper". If food and energy cost more but electronics got cheaper they can squash the two together to produce one number which is slightly lower at the end.
Even "electronics got cheaper" is a lie. They get better so govt assumes that the same or equivalent product is cheaper when really the price floor stays the same. For example: a year ago the cheapest TV might cost $200 and today the cheapest might still be $200 but they can claim the newer one is better making the equivalent cheaper. Problem is the cheaper equivalent doesn't exist you still need to pay $200.
I would suggest taking a look at something you're going to basically buy forever, and making your own kind of "Consumer Price Index" and see the real effect of inflation by looking over your receipts.
The term is called hedonic adjustment. Between it and substitution bias (e.g. beef is too expensive, so you/the CPI replaces it with cat food), it's just more ways for the feds to cook inflation numbers.
In addition to the math bullshit I want to point out (again) that government can fudge the figures further by saying "electronics got cheaper". If food and energy cost more but electronics got cheaper they can squash the two together to produce one number which is slightly lower at the end.
Even "electronics got cheaper" is a lie. They get better so govt assumes that the same or equivalent product is cheaper when really the price floor stays the same. For example: a year ago the cheapest TV might cost $200 and today the cheapest might still be $200 but they can claim the newer one is better making the equivalent cheaper. Problem is the cheaper equivalent doesn't exist you still need to pay $200.
You're 100% right.
I would suggest taking a look at something you're going to basically buy forever, and making your own kind of "Consumer Price Index" and see the real effect of inflation by looking over your receipts.
The term is called hedonic adjustment. Between it and substitution bias (e.g. beef is too expensive, so you/the CPI replaces it with cat food), it's just more ways for the feds to cook inflation numbers.
They only offer inflation metrics in order to fool people into thinking it’s not so bad. The real numbers would result in more gallows construction.