US inflation hit multi-decade highs in early 2022, due to various factors including monetary policy, supply chain issues, and consequences from Russia's invasion of Ukraine (AP, Investopedia). The question will be suspended on 31 December 2022 and the outcome determined using the 12-month percentage change as first released by the Bureau of Labor Statistics for "All items" in January 2023 (BLS). For December 2021, the change was 7.0%.

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