Absolutely right.

This can be seen by anyone that goes and buys anything over time. The price increase of the goods and services you usually buy have been increasing way over the inflation rate they tell you in the news. Real change in prices is more like 20-50% and in some cases prices have even doubled, whereas inflation in the news is at like 7%.

This article explains why the inflation number shown in the news is so much lower than what you see in real life. It's just a tool they use to make you think it's all under control and everything is fine.