I have written several articles on Newsvine about inflation. What is puzzling, is that most people except inflation no matter what the published rate is, or what the real rate of inflation is.
There are several 'real world' ways to 'judge' inflation rather that to get into a debate about how the government calculates inflation rates.
One of the simplest ways to 'look at' inflation, is the price of a First Class Postage Stamp.
Simply, from the time I was a late teen (1965-1968) there has been a 1000% increase in the price of a postage stamp, although inflation adjusted, it has stayed 'the same.' So, a 4.9 cent stamp in that period is now 49 cents, and the inflation adjustment is valid.
Most all like things, a Ford F-150 Truck for example being the most stable bought unit in the US, is also 10x the price from the same time basis until now, or 4000 to 40,000.
Likewise, if you had invested 10,000 in that early period, and now had 100k, you might be quite pleased at the capital gains, but that is an illusion, it only matched the 'true' inflation during the period.
Sadly, if you put 10k in your mattress in the mid 60s, it would only be 'worth' 1K, now.
Now, if you bought a 20k home in the mid 60s, it would likely be worth more than 200k now, but again, that is just reflective of 'true' inflation.
Stunningly, a 50 year period of time, is observed by most of us, and to think that a 50 year period of time, in my lifetime, has resulted in 1000% inflation. As an late teen, I would have never believed that I would see things become 'expensive' while at the same time the dollar 'lost' the same value. In terms of the Gold Standard times, the current dollar is worth slightly more than a mere 1920s penny.
What is more insane, is this. Lets say you have 200k in the Bank. The Banks will pay you .01% interest (Wells Fargo). So that is like nothing. Now, the Bank lends your 200k to some young couple to buy a house with your deposit. The Bank makes over 500 per month on the money that was yours, cool, huh?
The Bank, being the middleman between the Depositor and the Borrower, is quite lucrative. Used to be that the Banks would pay 4 or 5 percent interest, that was before the Congress allowed Banks to rip-off depositors.
Between inflation, and corrupt practices, the average Joe Blow is just an economic slave with no way to 'win.'