re: WSJ: U.S. Inflation Hit 31-Year High; Worse in the Southern US

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So this is saying prices are increasing at 5+% every month for 5 months? So something that cost a dollar 5 months ago may now cost 21% more?

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No. Two things wrong with your post. First, the 5% monthly inflation means annualized; that would be 5% in a year if it continued for 11 more months.

Second, if it actually was 5% per month that would not give you a 21% rise after five months, it would be 27.62%.