US inflation up 47.1% and real GDP down 21.4% since 2011!

Alasdair Macleod compares the Chapwood Index to the official CPI

Government has been lying to everyone, including itself, about the rate of inflation. The government claims that cumulative inflation since 2011 is 7.2%; whereas, the Chapwood Index claims that real prices of the top 500 items purchased by Americans in America's 50 largest cities have risen a cumulative 47.1%.

The Chapwood Index also challenges the government's claim that nominal GDP has grown by 18.1% since 2011, which would mean that real GDP is up by 10.9% (the difference between nominal GDP of 18.1% and inflation of 7.2%). But Chapwood claims that real GDP has FALLEN by 21.4%!