For CPI (logarithmic) it is 2.4%. Many people believe that government statistics underestimate the actual rate of inflation. It was John Williamson of ShadowStats. Now it’s EJ Antoni of the Heritage Foundation (who promotes Primerica’s everyday use of price indices). But the American Institute for Economic Research’s “everyday price index” (EPI) says otherwise (over the past year and a half).
Figure 1: CPI (blue), chained CPI (red), HICP (purple), EPI (green), Truflation (light blue), all not seasonally adjusted, PCE deflator – market oriented, seasonally adjusted (pink), all in log 2023M03 = 0. Truffle index measured on the last day of each month. Source: BLS, European Commission (FRED), Truffle, air.
AIER’s EPI attempts to tabulate.As said, it is a daily cost that takes out the price of deferrable goods and services. Truflation leverages big data to generate high-frequency estimates of the cost of living (documented). here).
