offical inflation numbers are just LIE and wrongg for decades. Now you see it yourself. Via wrong numbers, they steal trillions
There are many ways in which inflation numbers are cooked; just one of them is the hedonic adjustment [1].
Others include an un-representative basket of goods.
The basket of goods is adjusted every 2 years, but not necessarily in a way that mirrors the way real households adapt their spending patterns to increased prices.
Owner equivalent rent (LOL) massively lags behind home prices.
Honestly, when 10s or hundreds of millions of people's perception does not match *Official Government Numbers*, then it's reason to suspect that the official numbers are a poor metric.
They adopted a new way to adjust inflation in 1990, and since then everything has been perfect lmao: https://www.shadowstats.com/imgs/sgs-cpi.gif?hl=ad&t=
I seem to have read an article that states that by the 1980s measure inflation hit 15%. Other alternative measures go the same way, with the famous big mac index crossing 10%.
In Europe, they seem to do the same, but seem more fans of actually falsifying the underlying figures (like the LIBOR incident, which turned out to raise mortgage payment yet lower inflation)
Asian central banks (by which we mean China) do it yet another way. They simply declare inflation, 4 years ahead of time, to be a certain value. Then inflation is that value. Of course, last time "for some reason" the economic measures that made up the definition of inflation were suddenly declared state secrets.
Of course this may just be the banks moving at different speeds. Europe used to fix it's inflation problems by redefining what inflation was. They moved on to falsifying data. I guess that's just what's in the FED's future.