The inflation is the most misunderstood topic in all of crypto. The online economists espouse a lot of stuff showing how little they understand.
To start, you have taken a very micro view. A YoY number doesnt tell a great deal. It is always best to have a macro view. Plus focusing solely on the US doesnt tell the entire story but that is what most do. For this reason, they believe money printing leads to inflation not realizing that theory was shot to hell by the real world called Japan. That country invented QE and printed for 25 years yet kept experiencing deflaiton.
Tokyo real estate prices, in spite of the massive run up in the BOJ balance sheet, is still down more than 40% from its peak.
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Wow. I guess I mostly pay attention to the US because I live here. That's insane!