As someone who had lived through triple figures annual inflation, it is concerning to see how people in America do not see to be aware that each year that pass they are closer to dishing the 100$ bill as the highest denomination and print a new one.
when you go to the grocery store
you see weekly changes in price deals of 20-50%
you see housing prices double in a decade (200%)
people have just gotten so used to the volatility of the consumer market that they no longer see it
they only see it when their beloved fox news and CNN point to it. otherwise they dont see it.
here in the UK its the same
i can go into 2 grocery stores on the same day and see price differences in goods of 20%. same product same brand. 2 different prices.. it immunises and sanitises peoples minds of concern. where they stop caring
in the last 20 years
i remember
2 litres of milk £1
uk fuel costs 70p a litre
electric 13p/kw
cheapest road worthy second hand car £300
house price £60k
mountain/town bicycle £70
now a bicycle is £140 (200%)
now a house is £180k (300%)
cheapest second hand car £900(300%)
electric is 39p/kw(300%)
uk fuel £1.45 a litre it went to £2 this summer (200%)
2 litres of milk £2 (200%)
thats 10-15% a year every year
while media talk about "10% in 2022 due to russia"
we have seen every year be 10%. and our milk, bikes, fuel, housing did not come from russia
we are only now crying about 10% inflation because the BBC and ITV news is talking about it, like beating us over the head about it
we have never been at 2% so the question of "will things ever go back to 2%.. the answer, when was it ever 2%..
UK government knew about the UK gas and oil industry making profits by raising prices of UK produced energy, but with lame russian excuse for the raise. they even gave incentive to uk energy to keep doing it with the windfall tax even before priced rose. they knew energy companies will profit.
yet the government then also started more money printing and throwing stimulus packages at people.
yep people were being given 2x alotments of £325 plus 2x£150 to cover "cost of living increases"
they dont want things to be 2%
they just know they were going above the 10% norm. and didnt want a recession of -X% to get back to norm after the covid stimulus died out, so they had to keep the money flowing by just keeping the money printing going