High Inflation: Why Won't It Die?

The Consumer Price Index has risen at an annual rate over 2% ever since March 2021. Although the Federal Reserve calibrates its 2% inflation target to another inflation measure (Core PCE), the CPI was often under 2% in pre-pandemic times. (To see a specific data point, tap or hover over that area of the chart.)

Chart: Investopedia Source: Bureau of Labor Statistics via Federal Reserve Economic Data
Investopedia