> Do the people cheering this understand that inflation is not a 'baseline' measurement, but a relative one? Yes, of course. Inflation is a derivative, and whe

> Do the people cheering this understand that inflation is not a 'baseline' measurement, but a relative one? Yes, of course. Inflation is a derivative, and when the rate at which prices were increasing slows down: that is worth cheering. It's a good thing (for consumers) in and of itself.