Chapwood Index Report for First Half of 2023 Shows High Cost of Living Increases, Exacerbating Financial Struggles

The Chapwood Index proves once again that the true cost of living increase is far greater than what the government tries to push by us

PLANO, TEXAS, UNITED STATES, November 8, 2023 /EINPresswire.com/ -- Chapwood Index Report for First Half of 2023 Shows High Cost of Living Increases, Exacerbating Financial Struggles for Many Americans

The Chapwood Index, the more accurate alternative to the Consumer Price Index (CPI) for measuring the true cost of living, has released its report for the first half of 2023. The Index highlights a significant discrepancy between its findings and the CPI, particularly in urban centers such as New York and San Diego, with the former seeing an annualized increase in living costs of 12.2 percent and the latter 11.5 percent. Even cities with the lowest increases, like El Paso at 6.8 percent and Phoenix at 7.4 percent, are experiencing rates that far exceed the official figures released by the Bureau of Labor Statistics (BLS).

The Devastating Impact of Underreported Inflation:
The Chapwood Index's report underscores a devastating reality: by underreporting inflation, the CPI is indirectly causing people to fall behind financially. The gap between the reported CPI and the actual increases in cost of living as shown by the Chapwood Index means that individuals and families are receiving far less in wage increases, benefits, and retirement adjustments than what is needed to keep pace with the rising costs.
This underreporting has particularly dire consequences for:
• Working-Class Families: Who find their wages stagnating while their expenses climb, effectively eroding their standard of living.
• Retirees: Whose fixed incomes are not being adjusted sufficiently to cover the actual increases in expenses, forcing many to deplete their savings faster than anticipated.
• Social Security Recipients: Who are receiving cost-of-living adjustments that are not in line with the real-world increases in costs they encounter daily.
• Investors and Savers: Who are misled about the true rate of inflation, affecting their investment strategies and eroding the real value of their savings.

The Chapwood Index insists that the continued underestimation of inflation by the CPI is not just a statistical oversight but a significant contributor to the financial hardship many Americans are experiencing. As the cost of living rises unchecked by accurate inflation adjustments, more individuals are finding it difficult to maintain their financial well-being.

The Index advocates for a reassessment of how inflation is measured and reported so that it truly reflects the costs that Americans are facing. Without this change, the CPI will continue to paint an unrealistically optimistic picture of the economy, while many Americans struggle to afford basic necessities.

For more information on the Chapwood Index and to view the full report, please visit www.chapwoodindex.com

About Chapwood Index
The Chapwood Index is a comprehensive measure of the true cost-of-living increase in America. It reports the unadjusted actual cost and price fluctuation of the top 500 items on which Americans spend their after-tax dollars in 50 of the most significant cities in the U.S. The Index is committed to exposing the reality of economic pressures faced by American households.

Contact Information:
Ed Butowsky Chapwood Index ebutowsky@gmail.com 972.897.0197

Ed Butowsky
chapwood investments, llc
+1 972-897-0197
email us here