This is a timely question, given the front-page headline on this morning's WSJ: "U.S. Core Inflation Hit New Four-Decade High Last Month." Here's an excerpt:

"Prices excluding energy and food rose 6.6%

The increase marked the biggest annual rise in core prices since August 1982, a sign that persistent increases are becoming entrenched in the economy. The overall CPI rose 8.2% in September, down slightly from the previous month’s gain."

I admit I don't know enough to tease out whatever subtleties you're referencing; can you explain what about this is misleading?