The US government changed the inflation rates once in 1980 and again in 1990 to understate the real level inflation so they wouldn't have to pay as much in SS (all detailed at shadowstats.com).
You quote a US inflation graph that uses the status quo measure of inflation. For example, peak inflation from 2000 to 2008 on your graph barely get's above 5% for a brief moment.
Using the original pre-1980 measure of inflation we see (which Ron Paul frequently references):
From 2000 to 2008 we were ALWAYS above 5% annual inflation and in 2008 got close to 13% (we're at 10% now).
Simply put...you understate inflation which skews argument that M2 doesn't correlate to inflation (aside from the fact that you use two different types of graphs to make your comparison).