2%, the "target" gives you doubling every 35 years:

1.02^35 = 1,999889552662455165696859397607876

1.037^19 = 1,994327011228170843897777950702988

If the prices double in 5 years (about what has happened) then it must be actually this:

1.15^5 = 2,0113571875

Also, they never consider the supply chain dislocations caused by such epic inflation. Incentives are all screwed up when it comes to inelastic demand, like housing, food, medicine. That's why they are the highest inflating.

Meanwhile, the cost of producing a mobile phone is more like 10% deflationary. It shouldn't be a surprise therefore that such items have become such an obsession these days even though they are basically time wasters.