Prior to the pandemic, inflation averaged 1.9 percent from 2016 to 2019. Since stabilizing in mid-2023, inflation has averaged about 2.9 percent, a full percentage point above the pre-2019 trend.
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The Inflation That Would Not Go Away
Prior to the pandemic, inflation averaged 1.9 percent from 2016 to 2019. Since stabilizing in mid-2023, inflation has averaged about 2.9 percent, a full percentage point above the pre-2019 trend.