[Eli5] how come the inflation level isn’t going up in the US, if the government literally gave everyone like 1000 dollars 3 times?

Question

From what I know, the government can make cash out of thin air, but this causes inflation levels to rise. Or is everything they’re giving out just their surplus?

In: Economics

Answer 1

My oil change place used to charge $40, now it’s $45. A Big Mac meal used to cost $8, now it’s $10. There’s tons of other examples. I see rising prices all around me. I’m not smart enough to know how to precisely calculate inflation like the ‘experts’, but I can see with my own eyes that my dollars are worth less than they used to be.