Yes, if I ignore that point then the top line number is the same. But it's a choice to compute top line CPI the way they do.
I'm explaining why people are still squeezed despite the top line number saying they shouldn't be.
When data and anecdotes disagree, then double check the way you compile your data.
The data shows that inflation inclusive of housing, education, and healthcare isn't that much higher than CPI, which is because CPI already includes shelter, which accounts for ~36% of CPI.
You assertion that CPI doesn't include housing is just wrong.
I'm not asserting they don't include housing. I'm saying housing is non-optional, so having low inflation on flat screen TVs is cold comfort if you're struggling to pay rent. The basket of goods isn't the same for everyone.
It's been like 5 years now of low consumer sentiment and increasing consumer debt while people who don't feel it are flabbergasted, the top line CPI number is fine, why aren't people happy?
> I'm saying housing is non-optional, so having low inflation on flat screen TVs is cold comfort if you're struggling to pay rent.
You're missing the point, rest is included in that top line low inflation number.
> the top line CPI number is fine, why aren't people happy?
secular stagnation? Cultural malaise? Expectations formed by ZIRP.