Let’s say ground round costs $6/lb.
It increases to $9/lb - that is 50% inflation.
Then, it increases another $3 to $12/lb - that is another 33% inflation
More increases by $3 to $15/lb - that is only 25% inflation.
But inflation has peaked!!!! Inflation is falling from 50%, to 33%, to 25%. Don’t you feel great, we have had peak inflation!!!
Do you work for the Government. That is exactly how they figure.
The definition of inflation used to be the growth of the money supply. Now, it’s a basket of items (ever changing) chosen by the government. The money supply has increased by about 50% since 2018, and most of that time the government and fed was reporting inflation below 2%. Which method could you think yields a more accurate number?