Official inflation figures represent a basket of goods cr*p and might have been useful in the 1950's but probably are hopelessly out of date today and are really only useful to MMT proponents and central bankers in allowing them to pursue their reckless experiment in money printing and interest rate suppression. Vastly more weight must be given to housing costs as this is an absolute human necessity: if you don't have shelter you will die, to put it bluntly.
Official inflation figures could quickly become worth less than the paper they are written on if there is another energy shock (like we had another global pandemic and another stock market crash; no this time is not different: these events still happen in this century just as they did in the 20th century) or if hyperinflation suddenly emerges.
