CPI inflation data quality continues to decline: In September, 40% of CPI items were estimated, up from 36% in August. When price data is unavailable, the BLS "fills the gaps" with estimated values, which typically account for ~10% of all CPI entries. The percentage has now QUADRUPLED over the last 7 months. This all means ~40% of price quotes across 200 product and service categories were calculated using substitute pricing, where data collectors filled in missing figures with values from other categories or regions. CPI numbers are becoming less accurate and less reflective of real consumer costs every month. What is happening here?