The idea that CPI sucks is far from a conspiracy theory... not sure why you're trying to color it like that.
The problem is that the error integrates over time, which IMHO is why graphs like that seem to suggest our standard of living is higher than ever... when a conversation with anyone at a local bus stop will tell you the exact opposite.
It's almost impossible for the standard of living to not be higher than ever. That becomes true if you assign any value at all to new medical discoveries. Like, people have been cured of type 1 diabetes in the last year.
The problem is that the error integrates over time, which IMHO is why graphs like that seem to suggest our standard of living is higher than ever... when a conversation with anyone at a local bus stop will tell you the exact opposite.