Sure, inflation in January was only 1.6%:

but there’s a lot of variation in the products that make up the CPI (butter was up 19.6% y-y, for example), which this tool from the WSJ lets you explore:

Want to know how the CPI weights all of these goods? Check out this oldie but goodie:

1 Response to Inflation: The Details
Russian Sphinx
February 20th, 2011 at 8:34 am
Last image is perfect, very good idea to show structure of CPI.