In reply to: Inflation as a relative metric may have been tamed posted by El Kabong
He's not talking about return to the level of prices just before inflation rose above 2%. He's talking about graphing where prices would be if we had experienced 2% every year since then and getting the actual price line to intersect that line at some point.
We could, in principle do this by having 1% inflation for some period of time. However, I agree that a monetary policy which would produce that would probably be accompanied by a recession.
inflation from 2008 to 2021 was well below historical averages. So we were due for some catch up. Certainly, not what we have seen in 2022 and 23.