They changed the rules...and covered it up!-----And Just Like That, Inflation Is About To Disappear? | ZeroHedge

And Just Like That, Inflation Is About To Disappear? | ZeroHedge
"Earlier this year, when inflation was still "transitory" two Fed chairs, Powell and Bernanke, made comments which we joked only make sense if the definition of inflation is changed:

...Sadly, our feeble attempts at humor were not unjustified, and as any economic history buff knows the US dramatically changed how it calculates consumer inflation back in the 1980s, an event extensively covered by AllianceBernstein former chief economist Joseph Carson on this website in the past (see "Consumer Price Inflation: Facts vs. Fiction") with the most important difference being that while the CPI of the 1970s included house price inflation, the current measure does not. 

...Bottom line, however, is that if today's CPI did include house prices in its measurement, the currently reported inflation numbers for house price inflation would push CPI (and core CPI) to double-digit gains...Read all.