...Except it couldn't raise rates. Not with trillions of debt needing to be paid back by both government and corporations (hint: there's no way). So the fed will just print and print and print...until the dollar is worthless.
If you want to claim that the CPI numbers are full of lies (because of a conspiracy?) then you need to bring serious evidence.
You need to pay more attention then, it's been nick-named the 'Grocery Shrink Ray' and practically all companies are doing it now. The strategy is basically either change the shape of the container (smaller) and keep the same price or to raise the price. Here is a good link to follow;
http://consumerist.com/tag/grocery-shrink-ray/
Oh, and my favorite one yet, "Now with 25% more!" while not actually offering any more.