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One thing to keep in mind with pandemic inflation shock is how large/rapid it was … even with disinflation this year, rolling three-year % change in CPI is still +18% (fastest/worst since mid-1980s) … abrupt shift in price levels matters a lot to consumers pic.twitter.com/WlyrUjikos

— Liz Ann Sonders (@LizAnnSonders) November 21, 2023