The absolute value of price changes in the U.S. fluctuated between 6 and 8 percent before 2020 and mostly between 7 and 8 percent after 2020, despite inflation's sharp rise in 2021-2022.
Notes on verification
Verbatim match to Federal Reserve FEDS Note figure description, corroborated qualitatively by Richmond Fed and BLS working paper on the same research (Montag/Villar).
Sources
- Price-Setting During the Covid Era, Accessible Data (federalreserve.gov)
- https://www.richmondfed.org/publications/research/econ_focus/2023/q4_feature1 (richmondfed.org)
- https://www.bls.gov/osmr/research-papers/2022/ec220020.htm (bls.gov)