> The 2020 inflation was the result of 2019 deficits. There was no inflation in 2020, the year that COVID hit. Many places experienced a month or two of deflat

> The 2020 inflation was the result of 2019 deficits. There was no inflation in 2020, the year that COVID hit. Many places experienced a month or two of deflation due to shutdowns. Remember when oil price went negative? * https://www.cbc.ca/news/business/oil-negative-price-1.5538996 https://www.cbc.ca/news/business/oil-negative-price-1.553899... Inflation didn't start going up until 2021, and some of that was due to base effects: * https://www.investopedia.com/terms/b/base-effect.asp https://www.investopedia.com/terms/b/base-effect.asp * https://blog.ons.gov.uk/2021/05/19/beware-base-effects/ https://blog.ons.gov.uk/2021/05/19/beware-base-effects/