Three charts to explain the inflation numbers

Retail inflation as measured by the Consumer Price Index (CPI) grew at 6.44% in February 2023, in line with the projection by a Bloomberg poll of economists. The latest inflation number is just eight basis points – one basis point is one hundredth of a percentage point – lower than the January print of 6.52%. What is the larger takeaway from the latest inflation numbers? Here are three charts which answer this question in detail.