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Thats from May2020 to May2021, and includes a collapse in consumption (for example fuel).

Look at chart 1:

Apr2021 had 0.8% month to month May2031 had a 0.6% month to month.

Which annualize ((1+i)^12) to: 10% and 7% respectively.

Or, a better estimate:

((1.008)*(1.06))^6=1.087

Or 8.7% annualized inflation using the data of the last two months.




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