The rules of thumb to do with inflation don't have much to do with what happened in the las few years. Inflation skyrocketed under Biden because COVID (and to a lesser extent, the Russia-Ukraine war) gave retailers an excuse to hike prices. Something like half of inflation from 2020-2022 was just corporations fleecing the common person because they knew people would buy it.
This is definitely the hugest contributing factor which is why I mentioned price fixing as well. Tons of different factors but I'm sure all big business owners were rubbing their hands together in delight at the thought of taking advantage of the pandemic
The rules of thumb to do with inflation don't have much to do with what happened in the las few years. Inflation skyrocketed under Biden because COVID (and to a lesser extent, the Russia-Ukraine war) gave retailers an excuse to hike prices. Something like half of inflation from 2020-2022 was just corporations fleecing the common person because they knew people would buy it.
This is definitely the hugest contributing factor which is why I mentioned price fixing as well. Tons of different factors but I'm sure all big business owners were rubbing their hands together in delight at the thought of taking advantage of the pandemic