All depends on who's overall budet you are talking about .
"real inflation number is more like 15 to 20% per year or so not 50% for your overall budget."
My budget consists of GAS and FOOD. Not computers, not buying appliances, not buying semi conductors or any other BASKET of goods that the Gov is using to track CPI. NOPE, just GAS and FOOD and for me.
So you don't pay any property taxes?
I'm assuming you don't have to pay any mortgage or rent (just keep in mind the majority of people are paying either mortgage or rent).
You don't have to pay car insurance or home owner's insurance?
You don't have any electricity or Natural Gas bills?
Trash and water and sewer are all free?
You never have to replace or repair equipment?
You never have to make home repairs?
You never have to buy clothes or shoes?
You don't have to pay for tolls, registration / vehicle taxes / inspections?
I'm guessing you have no plans to ever buy another vehicle? (and of course have no car payments)
Don't have to buy tires or do service on your vehicle?
Never have to pay for any medical or vet bills?
You don't have any school aged kids around that need school supplies, school clothes etc?
None of your household appliances ever break down and need repairs / replacement?
If you are one of the rare few that have to pay none of all the above, I'd be very surprised but perhaps it is possible.
In any case your experience of your budget consisting "only" of food and gasoline, is not in any way representative of what the average working class family has to account for in their budgets.
I could just as easily try to claim that there in no inflation because I know somebody that grows all their own food and charges their electric car from solar panels, but that would be just as invalid.
You can't have a proper discussion on macro economic forces such as inflation using only a cherry picked tiny sample to prove your point, you need to go with the mode of what most folks divide their budget into. The government does it's own cherry picking of course by carving out food and fuel, specifically because those are more subject to wild swings which look bad politically.
The fact of the matter is that food and fuel are for MOST working class Americans, only a part of many other things they have to pay for to keep their households and family in operation.
But on your gasoline issue, demand destruction put a limit on it.
For example here, Gasoline rose to be touching the $5 per gallon range, and it became so expensive many people stopped driving when they didn't have to or made other long term changes to their transit situation. Now Gasoline is in the $3.35 / gallon range, and will probably eventually creep up a bit to test where the next demand destruction threshold is.