RE:RE:RE:CPI revision coming? Keep in mind the 30% increase in housing costs over the past year has also not been revealed in the cpi data, if they were, cpi would be closer to 18%.
Owners equivelant rent is just a made up number that doesn't exist in the real world, yet its the largest single component of the cpi contributing 1/3 of the weighting.
If we used the same cpi methodology today that was used in the 1970s, we'd be printing numbers close to double what we currently are. Point is.. the cpi is going to stay elevated because interest rates can never get to where they need to be (positive real rates) to actually fight inflation due to the amount of debt in the economy. With all the rate hikes that have occurred this year, we're no closer to bringing the cpi down than we were in March.
Central bankers will keep tightening until they cause the next crisis and then they'll do what they've always done, create more inflation to fight whatever that crisis is.