Just a note, inflation didn't rise 3.7% in august, that's the overall inflation rate for the past 12 months ending this august. In August inflation was 0.6%. And if you look at the CPI minus energy and food prices (which they do because those prices are volatile and will change significantly independent of inflation), it was 0.3%, which is the same as it was in august of 2019.
Just a note, inflation didn't rise 3.7% in august, that's the overall inflation rate for the past 12 months ending this august. In August inflation was 0.6%. And if you look at the CPI minus energy and food prices (which they do because those prices are volatile and will change significantly independent of inflation), it was 0.3%, which is the same as it was in august of 2019.
Thanks for this insight, Matt! Appreciate you