Because the inflation indicator is calculated with a typical spending basket, it has several components which are slower to adjust prices. In CPI for example ho

Because the inflation indicator is calculated with a typical spending basket, it has several components which are slower to adjust prices. In CPI for example housing is 25% and then you have things like education, healthcare and insurance. Also inflation numbers are usually reported comparing the difference in the last 12 months, you are probably thinking about the pre-pandemic prices so you'll have to add them up.