One thing you have to consider with the CPI is they have changed the way it has been figured over the years.

shadowstats.com

There are a couple of different ways to look at that, from my perspective.

If a person assumes the methodology used today is superior than what was used in the past, then why not go back and apply the methodology to the past numbers. Hey, guess what? We didn't really have inflation in the 70's. It was all a figment of our imagination. Figured the way it is today, there would have been little inflation.

Or, if a person figures our government wants to fudge the numbers and have inflation but make people believe there is none, while even making them fear deflation, then using older methodology would give a better comparison picture of todays price inflation compared to the past. Using older methodology, we are running about 5% instead of the reported 1-2%.

When the length of the measuring stick changes, the measurement becomes less meaningful.

John