Some minor corrections and notes: 1. Real estate prices aren't included in CPI (nor in PPI); real estate is an investment item, not consumption 2. “Reacts quickly” isn't the definition of price volatility 3. Food and energy can be electively excluded due to their volatility and cyclicality 4. A president wouldn’t have removed something from the CPI, that is up to the Bureau of Labor Statistics, which is a part of the Bureau of Labor.