This is a reasonable starting point, but the CPI is not an accurate number. The downward pressure of hedonic indexing distorts the real value of inflation.

https://www.bls.gov/cpi/quality-adjustment/home.htm

For a simplified example, the latest smart phone in 2019 was $1,000. In 2022 the latest smart phone is also $1,000 but because it has twice the memory and double the processing power with a larger screen it is ascribed a value of $700. It is 30% better for the same money. When the hedonic index of smart phone cost is applied, it is now represents only $700 in the CPI instead of $1,000, even though a smart phone costs $1,000. Your internet is twice as fast now for the same rate you paid 3 years ago. That just put 50% deflation on the cost of internet into the CPI, even though you still pay the same for internet. A new car has better features, so hedonic indexing reduces the value in CPI. New houses have smart wiring, energy efficient HVAC, better windows, so a hedonic index is applied since you are getting more. Real inflation is much higher than CPI.

A more complex real world example.

Financial education is intentionally absent from the public education system.