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As an Australian, with an economy always experiencing very high inflation (8%) I just immediately question what is the composition of the US CPI. Perhaps it’s not reflective or is disproportionately weighted

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That doesn't seem to be the case in the statistics from the Australian Bureau of Statistics.

historical data: https://www.abs.gov.au/statistics/research/70-years-inflatio...

more recent history: https://www.abs.gov.au/statistics/economy/price-indexes-and-...

Australia has had a lot of asset inflation and is only recently starting to show in the consumer prices. eg afaik house prices are not included in the CPI

In some places it has become impossible to buy a house for some income levels.

Should the CPI be infinite?

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