I think the real issue is that for the powers that be, inflation is seen as either neutral or a good thing. The only people it hurts is the working class and the blame is nebulous. So it is used as a tool to increase taxes without changing laws, lower the cost of debt, and cut labor wages since they don't get pay raises commensurate with inflation. So I think it is a trick played upon the working class to screw them over in the long term while the wealthy are protected because all their assets simply go up in value with inflation. I think the target inflation rate should be 0%, not 2%. I simply don't believe the justification for the 2% target.

We're well above 2% anyway, I doubt they will ever hit that again - they are already having to cut rates because job market is frozen, and that will increase inflation pressure.

I track my spend each year and my personal actual inflation rate has averaged about 4.5% over past 5 years. And I'm pretty low income, my spending is all core stuff.