Commentary Last week, we wrote about why inflation is a threat to your portfolio, and in today’s article we’re going to cover how inflation is being understated and why we believe that things are going to get worse. Next week, we’ll cover a variety of ways readers at all levels of income and wealth can take steps to protect themselves. The Consumer Price Index (CPI) is an attempt to measure an overall increase in prices across time. The calculation runs into a variety of problems including issues with product substitution, rural vs urban consumption, and innovation. The last item shows how difficult it is to calculate an inflation number when prices for items like cars, televisions, and computers might be similar to what they were many years ago, but the newer models have better performance and improved features. If you pay the same amount for a better product, the CPI …