The price index is rising slowly, but the inflation that's causing it is unprecedented (eg the absurdly low interest rates and talk of going negative). In a technological economy, we'd expect the price of goods and services to be continually decreasing, as price is the fundamental metric an economy optimizes for. Instead, the fed has insisted on rising prices so that everybody is kept working more, in spite of ever-growing technological progress. Predictably, the components of the CPI that are directly dependent on production decrease, while the sectors that have been financialized (housing, education, healthcare) shoot up as that is where conjured money is injected at the consumer level.