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XkF21WNJ t1_it9qjro wrote

Surely inflation is expected to go down at some point? It seems unlikely that prices would continue to increase rapidly indefinitely.

Of course we wouldn't suddenly get a large spike of deflation as prices go down again, wages are already adjusting to the new price point which means it's probably stuck for now (not necessarily a bad thing, to some extent it's the economy fixing itself by devaluing old money).

Inflation is the derivative of the price level though, it would be weird for inflation to stay record high two years in a row.

Also 'difference with 12 months ago' is useful as a metric, but behaves a bit oddly when you want to estimate the derivative of something that changes rather quickly. It doesn't filter out high frequency stuff, it mostly just filters periodic patterns that repeat yearly.