Yes, inflation for our own particular basket of goods may differ from the CPI based inflation rate. Sadly, however, I must discount unquantifiable and unverifiable observations that we (even me) "are paying a lot more than we used to pay." Does any of us know precisely how much the price rose for us, for precisely which goods, and over precisely what period? Do we notice things where the price hasn't risen at all or has only marginally increased or maybe has even gone down? I sure don't notice them or measure them. The only things that attract my attention are the most outrageous increases, like eggs until recently.
So I am forced to rely on the BLS to gather actual, measurable, verifiable data, weight it in some sensible fashion, and create the CPI number. I can argue about some of the methodology, but at least BLS takes a stab at objective analysis of real data rather than relying on personal anecdote.
And, really, it is that CPI number that affects me the most, because that's how the COLA on my social security is set, as well as the COLA on the young wife's and my pensions. It determines the interest rate on my I bonds. And probably many other things that don't pop into my mind right now. So I'll stick with it.
