If you conducted a CAGR on global M2 over the past 40 years, that would be my best guesstimate of what “real” inflation has been for everyone in the world. Perform the same exercise for xxxx country, to see what those citizens were dealing with locally. As you drill deeper then you’ll need weighted averages to understand the impact. Also when you work with short durations of time there’s a lot of distortions in the numbers.