What is inflation? How is it measured? CPI? Core inflation? How is inflation different from the price level. What is hyperinflation? Is the United States going to experience hyperinflation?
present these two charts from FRED showing the price level versus the rate of inflation. How does the US inflation differ from this one in Venezuela
Venezuela: https://fred.stlouisfed.org/series/FPCPITOTLZGVEN
US: https://fred.stlouisfed.org/series/FPCPITOTLZGUSA
No need for a reference for the FRED charts.
~Reference for Journal Article attached: The Economist Newspaper. (2021, October 8). Will surprisingly high global inflation last? The Economist. Retrieved July 8, 2022, from https://www.economist.com/briefing/2021/07/10/surprising-levels-of-inflation-are-increasingly-being-driven-by-wages-not-goods