p.s: somebody in the comments says that bloomberg has the calculation wrong on this ticker, I would not be surprised because that one doesn't make much sense when compared with the rest of the data
I think people are learning just how hard predicting inflation is. They could take lessons from traders in the 1970s.
@MrWizard Yes, and I would add that in today's world this is even harder as money can move way quicker (i.e the electronic bank runs in march) and the staggering amount of debt/money has deflationnary effects when interest rates rise but ALSO inflationnary as incredible as it sounds. Increasing the interest rates has an upside effect on velocity of M2 for example.