I don’t know why they used 2019 as the base line when most of the price hikes came in 2021 shortly after Biden took office.
Prices started accelerating in 2020 during the government created pandemic but didn’t really take off until 2021. Now, that same $100 basket of goods you were buying in 2019 takes $137.00.
Wall Street Journal (Free Link)
Remember that inflation is cumulative. Just because the current inflation rate is a little over 3% that’s still 3% on top of last year’s 3.4% and 2023’s 3.4% is on top of 2022’s 6.5%. It all continues to snowball and add up.
