ok, suppose the news says inflation is up 8% this month. And last month it rose 7%. When is the starting point? Does this mean that over the past 2 months that things cost on average 15% more than they did 2 months ago?
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When people say inflation it’s normally annual inflation, so it would be both months compared to the same month a year before. Some places also report month on month inflation but that’s less common and should be explicitly called that.
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