People don't seem to grasp that 9% inflation is extremely high across an economy as large as the US. The 70s had 15% inflation, everyone with their rage boner demanding 50% inflation in the CPI wants ridiculous reports of hyperinflation.
Yes! And a lot of people forget that, but I calculated it and the average spending increases I've been seeing in my household are up more like 15% YOY over the last 2 years. And that coincides with a significant reduction in consumption on our part as well as substitution for cheaper goods over that same period.
