I specifically wrote the "goods and services I want" so real estate that I'm not interested in doesn't concern me. I have to plan my life around buying real estate that I want, and so if the price of that real estate is increasing, then it's once again affecting my bottom line.
Education and healthcare being social and fiscal policy issues is irrelevant to me for budgeting purposes. All I am concerned with is the price to achieve the life I want for myself and my kids.
I am predicting that the items I am interested in buying are worth $x in year 2021, but will be worth $y in year 2030, and the difference in $x and $y will be more than what is predicted by official CPI numbers. This has proven true for the last 15 to 20 years for me.
I assume it's all wrapped up in the widening income/wealth divides, rewards of automation and outsourcing going to capital owners, and reduced opportunities or perceived opportunities for many resulting in lower quality of life than they expected. That's not going to be captured by any numbers, especially not in a single number nationwide for a place as big as the US.
CPI measures something, and perhaps it's useful for economists or policymakers, but it has been useless as a predictor for how much income I will need to keep up with expenses in day to day life.
Real estate, while down, is a supply and demand function. In big cities, supply is artificially constrained to the benefit of existing landowners. On average across the US housing, on an inflation-adjusted dollars per square foot basis, is actually exactly the same as its been since the 1970s. [1]
Education and healthcare are social and fiscal policy issues and not connected to monetary policy at all.
[1] https://fee.org/articles/new-homes-today-have-twice-the-squa...