So you think the government wouldn't pull your leg? I've got news for you. They'll do just about anything they can to paint the rosiest scenario they can, including changing the methodology for an index at any time.
Here's a glaring example. Inflation figures were not looking good some time ago so they simply changed their methodology to make current years look much better. Their CPI-U looks pretty good right now until they use the methodology the way they used to in 1980.
Big Brother says the inflation rate is only about 1.5% now when, in fact, it's actually closer to 9.2% measured the way it had been all along previously! Surely this approaches fraud!
Should we care about inflation? Yes. This chart, which also confirms the first chart, from A Long-Term Look at Inflation shows why:
Your purchasing power has tanked.The $2.00 that your Great Grandfather had in 1900 is now worth $0.05, 2.5% of what it could buy back then! Notice what happened as we abandoned the gold standard!
By the way, there's also another chart here confirming our first chart.
Be assured that our politicians and our Federal Reserve are doing what they can to keep their Ruling Class friends and bankers happy while they inflate away our hard-earned bucks.
RR can close this better than I can:
The first 3 Feds broke us. The 4th, is now doing the same!