This is ~14.4% average inflation over the last 8 years.
https://www.weforum.org/agenda/2022/06/hyperinflation-inflation-interest-rate/
According to the WEF, inflation "may reach" "10%"...
uh huh. Fucking liars.
https://en.wikipedia.org/wiki/Hyperinflation#Definition
The International Accounting Standards Board has issued guidance on accounting rules in a hyperinflationary environment. It does not establish an absolute rule on when hyperinflation arises, but instead lists factors that indicate the existence of hyperinflation:[9]The general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency. Amounts of local currency held are immediately invested to maintain purchasing power;The general population regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency. Prices may be quoted in that currency;Sales and purchases on credit take place at prices that compensate for the expected loss of purchasing power during the credit period, even if the period is short;Interest rates, wages, and prices are linked to a price index; andThe cumulative inflation rate over three years approaches, or exceeds, 100%.
By this definition above, we are in hyperinflation already at 14%
1.144 ^ 3 = 2.74
That's 270% in the last 3 years taken on the average from the last 8 years.
In actual fact, starting in 2020, the inflation rate has been more than double that. I remember noticing it was happening already in 2019, seeing price mismatch at a supermarket in Shumen, Bulgaria, that had more than 30% between the shelf label and the sticker on the products, which couldn't have been more than a year, absolute worst case scenario.
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