The Consumer Price Index Overstates the True Rate of Inflation

So as it stood then, as it stands now, people's benefits are increased in accordance with the rate of inflation. So moinehan got a be in his bonnet that, o my god, consumer price index over states the true rate of inflation and so on. And he got this crusade that, oh, we're going to adjust suc security for thetrue rate of inflation - which was at least one per centage point. I won't go through all the gory details, but one of the points that i was making is, ok, let's say that's true. What that means is that rear wages, real income, they've been rising by one % point more