Costco finds inflation is at zero; deflation looms.

[ProfessorGAC]

14. One Of My Pet Peeves

The supply chain issues were virtually gone by the 2nd quarter of 2022.
In fact, transportation volume of goods went STEEPLY UP from Q3 2021 through Q2 2022.
Remember, that nearly 85% of the base economic activity did not go down at all, even during the peak of COVID.
Supply chain disruptions were a convenient excuse to raise prices long after supply rebounded to meet & exceed demand.
The fact that inflation spiked due to pent-up demand is a clear indicator that the supply was there. These goods weren't more expensive due to true scarcity.
I agree with you in principle, but the "supply chain issues" didn't last anywhere close to as long as the financial pages would have us believe.
Plus, fuel prices greatly contributed to the inflation and any supply issues were intentionally manipulated when big petroleum producers slowed down output.