3% YoY vs 4% last month and 9% last year are excellent, not pretty bad. For comparison yoy inflation in 1983/1984 (massive win for the incumbent president) was

3% YoY vs 4% last month and 9% last year are excellent, not pretty bad. For comparison yoy inflation in 1983/1984 (massive win for the incumbent president) was >3% and >4% respectively with a significantly higher unemployment rate