i think the three letters CPI are used by quite a few people - and even commentators - without really understanding what components go into the CPI .
the link below will give a brief overview - not much more . there are government publications given very detailed explanations .
from the linked article :
"Permanently excluding particular components
A standard core measure excludes food and energy from the overall CPI. This is often the one that receives the most public attention. There are, however, other variants that are readily available or in use: for example, there are versions for the euro area and the United Kingdom that exclude energy and unprocessed food; in Japan, fresh food is removed; and in Canada, the eight most volatile components, as well as indirect taxes, are taken out of the index. In the United States, in addition to the CPI-based measure excluding food and energy, the measure based on the private consumption expenditure (PCE) deflator, which is preferred by the monetary authorities, also has a core counterpart. What all these measures have in common is that the exclusions are permanent. "
imo CPI - or inflation - is what you see when you go shopping .
as one economist being interviewed on CNBC stated recently :
when he told his wife over dinner about the low inflation rate , she insisted that he go shopping with her . he said 'it was a rude awakening' .
imo the CPI is something economists and governments play around with to fool the unknowing public .
...C P I...