Paul KrugmanOne thing I've been noticing in my correspondence is how many people think inflation is still running wild; the big deceleration in the 2nd half of 2022 hasn't broken through to public consciousness 1/
Hal Canarypeople also don't think in terms of rate of increase.
we are conditioned to consider prices from five years ago as normal. when we still see prices elevated compared to that level, we think inflation must be ongoing!