In case anyone is curious, the following are the seasonally-adjusted monthly changes for the past twelve months, from the oldest to the newest: 0.5%, 0.3%, 0.4%

In case anyone is curious, the following are the seasonally-adjusted monthly changes for the past twelve months, from the oldest to the newest: 0.5%, 0.3%, 0.4%, 0.9%, 0.7%, 0.6%, 0.6%, 0.8%, 1.2%, 0.3%, 1.0%, 1.3%. https://www.bls.gov/news.release/archives/cpi_02102022.htm https://www.bls.gov/news.release/archives/cpi_02102022.htm https://www.bls.gov/news.release/archives/cpi_07132022.htm https://www.bls.gov/news.release/archives/cpi_07132022.htm To highlight a couple of things in particular: The monthly rates do not resemble a step function. The increase for this latest reported month is the highest for the past year, at 16--17% annualized.