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Chapwood Index 2025 Report Reveals Americans Face Real Cost-of-Living Increases Far Above CPI

PLANO, TexasNew Data Shows CPI Fails to Reflect the Actual Financial Pressure on American Households

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The latest Chapwood Index findings show that Americans continue to experience cost-of-living increases that dramatically exceed the inflation rates reported by the Consumer Price Index (CPI), raising serious concerns about the use of CPI as the nation’s primary measure of inflation and purchasing power.

The Chapwood Index tracks the actual prices of 150 commonly purchased goods and services in the 50 largest metropolitan areas in the United States. Unlike CPI calculations, the Chapwood Index measures real prices paid by consumers without substitutions, hedonic adjustments, weighting manipulations, or other statistical modifications.

“The CPI no longer reflects the financial reality facing American families,” said Ed Butowsky, Founder of the Chapwood Index. “Americans know their grocery bills, insurance premiums, taxes, utilities, healthcare costs, and everyday expenses are rising far faster than government statistics suggest.”

2025 FINDINGS

The 2025 Chapwood Index data confirms that Americans continue to face annual cost-of-living increases that are several times higher than official inflation reports.

Across major metropolitan areas, long-term Chapwood Index averages remain in the range of approximately 10% to 14% annually, far exceeding the CPI figures used to determine Social Security adjustments, pension increases, wage negotiations, and retirement planning assumptions.

Among the highest long-term inflation cities:

  • Oakland: 14.19% average annual increase
  • San Francisco: 14.16%
  • Long Beach: 14.04%
  • San Jose: 13.96%
  • Los Angeles: 13.34%
  • Boston: 13.03%

Nationally, the average annual increase in the actual cost of living remains approximately 11% to 12%, according to Chapwood Index calculations.

WHY CPI IS NOT A LEGITIMATE COST-OF-LIVING MEASURE

The Consumer Price Index was never designed to measure the actual increase in maintaining a constant standard of living.

The Chapwood Index identifies several reasons why CPI fails as a real-world cost-of-living benchmark:

  • CPI relies on statistical adjustments and substitutions that often reduce reported inflation.
  • CPI does not accurately capture the full impact of taxes, local costs, and many essential household expenses.
  • CPI applies national averages despite vast regional differences in living costs. A family in Dallas experiences a different inflation environment than a family in San Francisco or Boston.
  • Wage increases, pension adjustments, and Social Security benefits tied to CPI frequently fail to keep pace with actual household expenses.

The result is a steady erosion of purchasing power.

For example, while official inflation figures often report increases of 2% to 4%, Chapwood data regularly shows real annual increases exceeding 10% in most major cities.

THE IMPACT ON RETIREMENT AND FINANCIAL PLANNING

The consequences of relying on CPI are significant.

Retirement projections, pension assumptions, salary negotiations, and investment return targets are frequently built around inflation rates that substantially understate actual living expenses.
A portfolio earning 7% annually may appear successful when compared to CPI. Yet if a family’s true cost of living rises by 11% to 12%, purchasing power continues to decline.

The Chapwood Index demonstrates that many Americans are not falling behind because they fail to save or invest. They are falling behind because the benchmark used to measure inflation fails to reflect their actual expenses.

ABOUT THE CHAPWOOD INDEX

The Chapwood Index was created by financial advisor Ed Butowsky to measure the actual increase in the cost of maintaining a middle-class lifestyle. The index tracks the prices of 150 frequently purchased goods and services across the 50 largest U.S. metropolitan areas and publishes updated results on a regular basis. Unlike CPI, the Chapwood Index reports actual observed prices without seasonal adjustments or statistical modifications.

For additional information and full city-by-city results, visit:

https://www.chapwoodindex.com

Media Contact:

972.897.0197

Chapwood Investments, LLC

[email protected]

Plano, Texas

https://www.chapwoodindex.com

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PepperBall Appoints Naomi Schware as Vice President of Marketing

LAKE FOREST, ILSchware joins the executive leadership team to lead the company’s global brand strategy, product marketing, communications, digital marketing, demand generation, and customer engagement initiatives

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PepperBall®, the leader in non-lethal public safety solutions, today announced the appointment of Naomi Schware as Vice President of Marketing. Schware joins the executive leadership team to lead the company’s global brand strategy, product marketing, communications, digital marketing, demand generation, and customer engagement initiatives as PepperBall continues to expand its leadership in de-escalation technologies.

Schware brings more than a decade of experience building and growing brands across the tactical, outdoor, powersports, and western industries. Her career began in the tactical market, where she helped develop global brands before leading integrated B2B and direct-to-consumer marketing strategies for both consumer and professional audiences. Her appointment marks her return to the tactical industry- a move she describes as “coming home”- driven by the PepperBall mission of providing non-lethal solutions that help de-escalate critical situations and protect officers, individuals, and the broader community.

“Naomi is a strategic leader who understands how to build brands with authenticity, purpose, and measurable business impact,” said Bob Plaschke, CEO of PepperBall. “Her experience connecting with diverse audiences, combined with her passion for our mission, makes her an outstanding addition to our leadership team. As PepperBall continues to grow, Naomi’s leadership will help strengthen our brand while ensuring we remain focused on the people we ultimately serve.”

Schware’s marketing philosophy centers on building brands from the end user back to the brand. She believes successful marketing begins with a deep understanding of customer needs, intentional audience segmentation, and delivering meaningful messaging through the right channels. At PepperBall, she will lead efforts to further strengthen the company’s brand while navigating the unique perspectives of its diverse customer base and reinforcing the organization’s position as the global leader in non-lethal de-escalation solutions.

“I couldn’t be more excited to join PepperBall,” said Schware. “Returning to the tactical industry feels like coming full circle, but what truly drew me back was the company’s purpose.

PepperBall isn’t simply manufacturing products, it’s creating solutions that help people make better decisions during critical moments. That’s a mission worth building a brand around.” Beyond her professional experience, Schware brings a unique combination of leadership and life experience to PepperBall. Her military service and experience leading global marketing teams have shaped her leadership philosophy, strengthened her ability to understand audiences from all backgrounds, and reinforced her belief that resilient teams, shared purpose, and authentic storytelling build enduring brands. “PepperBall has built an incredible reputation through innovation, trust, and a relentless commitment to its customers,” Schware added. “I’m excited to partner with this talented team to continue telling that story, strengthening our relationships with every audience we serve, and supporting the company’s next phase of growth.”

About PepperBall®

PepperBall is dedicated to creating the highest quality non-lethal law enforcement solutions that de-escalate confrontations, safely change behavior and ultimately save lives. For over two decades, PepperBall has been the trusted non-lethal partner for thousands of law enforcement, correctional and military professionals worldwide, and over 20 million PepperBall projectiles have been safely deployed. To learn more about PepperBall, visit pepperball.com.

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Katherine Riley
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Website: www.pepperball.com

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Pan Ocean Capital and TMGM Announce Strategic Partnership for the MARIA91 Investment Platform

Riyadh, Saudi Arabia  Pan Ocean Capital has entered into a strategic partnership with TMGM, one of the world’s leading multi-asset brokerage firms, to expand access to the MARIA91 Investment Platform across the Asia-Pacific (APAC) region.               The partnership establishes a long-term strategic relationship that combines Pan Ocean Capital’s investment expertise with […]

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Pan Ocean Capital has entered into a strategic partnership with TMGM, one of the world’s leading multi-asset brokerage firms, to expand access to the MARIA91 Investment Platform across the Asia-Pacific (APAC) region.

Screenshot 2026 07 31 194404 Pan Ocean Capital and TMGM Announce Strategic Partnership for the MARIA91 Investment Platform

 

 

 

 

 

 

 

The partnership establishes a long-term strategic relationship that combines Pan Ocean Capital’s investment expertise with TMGM’s global brokerage infrastructure to deliver institutional-quality investment solutions to professional investors and qualified clients.

The MARIA91 Investment Platform comprises two complementary investment solutions designed to meet the diverse requirements of professional investors while maintaining a single, disciplined investment philosophy.

Under the agreement, TMGM will introduce MARIA91 Hedge Fund S.P. to its network of eligible institutional investors, including family offices, asset managers, investment companies, and other qualified professional investors seeking institutional alternative investment opportunities.

In parallel, Pan Ocean Capital will launch MARIA91 Strategy, a professionally managed account solution available through the TMGM trading platform. Managed exclusively by Pan Ocean Capital, MARIA91 Strategy applies the same investment philosophy, portfolio construction methodology, trading models, portfolio allocation process, and disciplined risk management framework employed by MARIA91 Hedge Fund.

Together, MARIA91 Hedge Fund and MARIA91 Strategy form the MARIA91 Investment Platform, providing investors with access to a consistent institutional investment approach through investment structures designed to accommodate different investor objectives and preferences.

The Asia-Pacific region represents the first phase of this strategic initiative, with additional international markets expected to follow as part of Pan Ocean Capital’s long-term international expansion strategy.

Strengthening Institutional Access

Dimas Putra, Partnership Manager at TMGM, commented:

“We are pleased to establish this strategic partnership with Pan Ocean Capital. By combining TMGM’s global brokerage infrastructure with Pan Ocean Capital’s investment expertise, we are expanding access to sophisticated investment solutions for institutional investors and clients seeking professionally managed investment strategies. We believe this partnership creates a strong foundation for long-term collaboration and future international expansion.”

Built on an Institutional Foundation

Pan Ocean Capital has established a global investment platform founded on institutional governance, disciplined investment management, and long-term value creation.

As of 30 June 2026, Pan Ocean Capital managed approximately US$226 million in assets under management (AUM), reflecting the continued confidence of its clients and the strength of the Company’s research-driven investment approach. Through disciplined capital allocation, robust risk management, and global market expertise, the Company continues to expand its investment platform while delivering institutional-quality investment solutions across international markets.

MARIA91 Hedge Fund S.P. is registered in the Cayman Islands and regulated by the Cayman Islands Monetary Authority (CIMA).

The Fund is administered by Apex Group, one of the world’s leading independent fund administration firms, with Barclays Bank – New York serving as Custodian and Deloitte acting as the independent external auditor.

Designed for professional investors, MARIA91 Hedge Fund targets annual returns of up to 36% while maintaining a disciplined risk management framework targeting a maximum drawdown of 3%. Investors benefit from institutional governance, independent oversight, monthly subscriptions and redemptions, and comprehensive monthly reporting.

The same investment philosophy and institutional framework underpin MARIA91 Strategy, ensuring that managed account clients benefit from the identical portfolio management process, investment methodology, and disciplined risk management standards employed by MARIA91 Hedge Fund.

During its initial launch phase, MARIA91 Hedge Fund has generated more than US$40 million in expressions of investment interest from institutional investors, reflecting growing confidence in Pan Ocean Capital’s investment strategy. These figures represent expressions of investment interest and do not constitute capital already committed or received.

Leadership Perspective

Maria Alhoshani, Chief Executive Officer of Pan Ocean Capital, commented:

“Our partnership with TMGM marks an important milestone in Pan Ocean Capital’s international growth strategy and reflects our shared commitment to expanding access to sophisticated investment solutions across the Asia-Pacific region.”

“The MARIA91 Investment Platform brings together two complementary investment solutions built upon a single investment philosophy. Through TMGM’s institutional network, qualified investors will have access to MARIA91 Hedge Fund, while MARIA91 Strategy delivers the same disciplined investment process through professionally managed accounts on the TMGM platform. Together, these solutions broaden investor access while preserving the governance, portfolio management discipline, and risk management standards that define our platform.”

“At Pan Ocean Capital, our vision extends beyond managing assets. We are building a globally connected investment platform that combines institutional expertise, strategic partnerships, innovation, and disciplined execution to create sustainable long-term value. Our partnership with TMGM represents another important step in that journey as we continue expanding our international presence and delivering investment solutions that meet the evolving needs of investors worldwide.”

Pan Ocean Capital confirmed that additional regional market launches, strategic partnerships, and new investment solutions under the MARIA91 Investment Platform will be announced in the coming months as part of the Company’s long-term international expansion strategy.

About Pan Ocean Capital

Pan Ocean Capital is a global investment platform and asset management company dedicated to delivering institutional-quality investment solutions across international financial markets. Through disciplined portfolio management, independent research, robust risk management, and strategic partnerships, the Company serves professional investors, family offices, and institutional clients with a long-term commitment to capital preservation, sustainable growth, and value creation. As Pan Ocean Capital continues to expand internationally, it remains focused on building innovative investment solutions that connect global opportunities with institutional standards of excellence.

About TMGM

TMGM is a global multi-asset brokerage providing institutional and retail trading infrastructure across international financial markets. Through advanced trading technology, global market access, and comprehensive brokerage services, TMGM connects investors with opportunities across multiple asset classes while supporting professional trading and investment solutions worldwide.

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MARIA91 Investment Platform
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Website: www.maria91.fund

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New Market Trading Names Ajdin Kahrović Chief Technology Officer

Florida, USA  The engineer behind defi.app’s $40B+ in volume joins NMT on launch day to own the platform’s technical foundation New Market Trading (NMT), the first wealth management firm to move the investment account itself onto the blockchain, today announced the appointment of Ajdin Kahrović as Chief Technology Officer.     Kahrović joins on the same […]

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The engineer behind defi.app’s $40B+ in volume joins NMT on launch day to own the platform’s technical foundation

New Market Trading (NMT), the first wealth management firm to move the investment account itself onto the blockchain, today announced the appointment of Ajdin Kahrović as Chief Technology Officer.

 

new market trading names ajdin kahrovic chief technology officer uYMf7n New Market Trading Names Ajdin Kahrović Chief Technology Officer

 

Kahrović joins on the same day NMT opens publicly to new clients, placing the architect of the platform’s security in the seat from day one.

Kahrović brings 11+ years of engineering leadership across fintech, Web3, and DeFi. He previously architected defi.app from zero to $40B+ in cumulative trading volume, 10,000 daily active users, and a $500M valuation, leading an eleven-person engineering team throughout.

His expertise spans blockchain architecture, smart contracts, DeFi protocols, backend systems, and cloud infrastructure.

“The CTO seat at New Market Trading carries real weight. Our clients hold their own assets, but the smart contracts the platform introduces need to be secure and audited. Ajdin has already built and scaled this kind of infrastructure at defi.app, past $40 billion in cumulative volume, and he leads engineers as well as he designs architecture. I hired him to own our technology completely. That is why he is here,” said Frank Hepworth, Founder & CEO, New Market Trading.

Security Is the Product

NMT clients own their investment account directly on the blockchain via ERC-4337 smart account technology. The NMT team holds a scoped, delegated permission to execute strategies but cannot withdraw or redirect funds. The security and integrity of that architecture is not a feature, it is the entire basis of the client relationship.

As CTO, Kahrović will lead all engineering, set the technical roadmap, and own the security and reliability of the platform as it scales.

“I’m excited to join Frank and the New Market Trading team as we build a platform that enables onchain wealth to be managed securely, in a truly self-custodial and censorship-resistant way.

“Our mission is to help investors own the highest-performing, fully managed crypto portfolios, whilst preserving the original benefits of crypto: sovereignty and independence. Exciting times lie ahead, and I’m looking forward to what’s next.”  said Ajdin Kahrović, CTO, New Market Trading.

Kahrović’s appointment ensures that as NMT scales, the engineering foundation beneath that model is designed and maintained by someone who has already carried this responsibility in production, at volume, under real market conditions.

His technical philosophy aligns directly with NMT’s founding principles: infrastructure that is censorship-resistant, open-source, privacy-preserving, and secure.

About New Market Trading

New Market Trading is the first wealth management firm to move the investment account itself onto the blockchain. NMT clients own their account via ERC-4337 smart account technology, delegate trading management to the NMT team, who can execute strategies but never withdraw or redirect funds, and gain immediate access to 10,000+ onchain assets, yield products, and active strategies that no legacy provider can offer. Account minimum USD $100,000.

Website: https://newmarkettrading.com/

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Yasmin
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