A quick update to my favorite CPI chart, following today's release of the April numbers: The chart compares the year-over-year change in the CPI index with the same change in the CPI index ex-shelter.

Over the last 20 years, the Consumer Price Index for all items has increased by 63.5% (see red line in chart above), while the price of clothing measured by the CPI for apparel has fallen by 3.3% ...