For what it’s worth, the unusually large increase in inflation as measured by CPI seems to be at least partially due to base effects: https://www.dallasfed.org

For what it’s worth, the unusually large increase in inflation as measured by CPI seems to be at least partially due to base effects: https://www.dallasfed.org/research/economics/2021/0513 https://www.dallasfed.org/research/economics/2021/0513 Long story short, we are comparing year-on-year when last year was itself almost as unusual as can be.