Shelter is the single biggest component of CPI (33% of Index) and is still being wildly understated (@ +4.7% YoY) with rents up 18% over the last year and home prices up 19%. Actual inflation rate is much higher than 7.9%. pic.twitter.com/4HD8ps58NU

— Charlie Bilello (@charliebilello) March 10, 2022