I am a bit bemused by the government Consumer Price Index (CPI) and everyone screaming their is no inflation in the economy.

Anyone who has bought a house, went grocery shopping, went to the hospital without health insurance, sent a kid to college, bought gas, or paid for heat or A/C for their house in the past year would claim otherwise. Hence this CPI ex-food energy measure always struck me as strange because in a person’s weekly budget those are probably the 2 largest expenditures, and in a monthly budget ex-mortgage, those are the 2 largest expenditures. So if one can live without food or energy, ok I will say inflation is generally benign ….