This is all fair and there are hundreds of economists who will admit that CPI has plenty of shortcomings - I don't think anyone would say that it's perfect or e

This is all fair and there are hundreds of economists who will admit that CPI has plenty of shortcomings - I don't think anyone would say that it's perfect or even hugely accurate. However the value of CPI comes from the fact that it's the accepted "compromise" for weighting and measuring inflation across the largest economy in the world. If you believe that CPI isn't accurate and your methods more accurately represent real-world inflation conditions, there's a ton of money to be made betting on the TIPS spread. https://www.thebalance.com/10-year-treasuries-historical-chart-416897 https://www.thebalance.com/10-year-treasuries-historical-cha... https://fred.stlouisfed.org/series/T10YIE https://fred.stlouisfed.org/series/T10YIE Right now it appears the market is actually reducing long-term expectations for inflation.