In June 2022, the inflation rate soared to 9.1%, marking the highest recorded since 1981. This surge may raise alarms, conjuring memories of economic turmoil from decades past. However, it’s essential to keep perspective. While 9.1% is indeed significant, it pales in comparison to the inflation crisis of 1980 when average annual inflation skyrocketed to a staggering 13.5%. This historical context illuminates that while inflation remains a concern, the current rate is not unprecedented.
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