[quote=Wyantry]The inflation rate average [/b](what people actually have to “pay”) [b]is STILL currently 8.3 ![/quote]
Yes --- for things you buy once a year, those cost 8.3% more than the last time. For the things you buy monthly, they cost 0.3% more than last time.
Quote:
This shows FJ-Biden “inherited” an inflation rate of ~1.3 ( a 4 month previous average)
And for a minute there, I thought you knew what you were talking about. You just averaged the summations of the Oct-19 to Sep-20, the Nov-19 to Oct-20, the Dec-19 to Nov-20, and the Jan-20 to Dec-20 inflation rates. Notice the problem? You counted Oct-19 once, Nov-19 twice, Dec-19 three times, Jan-20 thru Sep-20 four times each, and then Oct-20 three times, Nov-20 twice, and Dec-20 just once. That's not the way averages work.
If you want to know the inflation rate for the last three months of Trump's term, I gave you the link before:
https://data.bls.gov/timeseries/CUUR0000SA0&output_view=pct_1mthThe numbers in question are : Oct: 0.0, Nov:-0.1, Dec: 0.1
These compare to the last three months: Jul: 0.0, Aug: 0.0, Sep: 0.2
And besides, looking at the inflation rate in 2020 doesn't tell us anything --- 'cuz we were in the middle of the frickin' pandemic and a recession. (have you forgotten that already?) People weren't buying things other than necessities.
In 2021, as Biden came in, we started moving OUT of the lockdown, and people started getting back to their normal lives --- Buying things & producing things. But produced things takes weeks to get into stores, and people wanted to buy things now, so prices go up (law of supply & demand). Further, producing some things require buying other things which need to be produced first, and so on. This is known as the "Supply CHAIN" (perhaps you heard of the term).