There is a lot of play room in computing inflation numbers. For example, there are assumptions based on which input variables are smoothed out to reduce noise.
The structural, hard data has foretold the path of inflation over the past 3 years with a high level of accuracy. Ignore the noise/headlines and you'll have a pretty clear view of the state of the economy. People who bet on sentiment and not the actual data have been wrong... though sentiment can drive real data to a certain extent, of course
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