People need to learn that when they hear ‘inflation is down’, it doesn’t mean things are getting cheaper, it just means that the increase in cost is slowing down.

Is it a psychological tactic that news media is using to make consumers more complacent? Who knows. But, whenever I hear someone mention that phrase like things are improving, I die a little more each time.

The inflation figure is an annual figure though. It means things are 2.7% more expensive than they were last year. OP is showing an example nearer 60%.