How can inflation be only a few percentage points and yet many goods and services are up over 50% since 2019?

Question

How can inflation be only a few percentage points and yet many goods and services are up over 50% since 2019?

In: 187

Answer 1

That number refers to inflation for the entire economy. Which is not the same as saying “all goods and services” have had inflation by a few percentage points. It is an average. Some sectors have different amounts of inflation than others.