Comment by jalopy

It's more helpful to look at a graph to see trends: https://fred.stlouisfed.org/graph/?g=XCAY

As one can see, the CPI was fairly steep during the period from Jan 2021 till June 2022; from there it has visibly flattened.

EDIT: A rolling 6 month annualized rate makes the drop pretty obvious: https://docs.google.com/spreadsheets/d/1VCEwEDWCAaWhmbosXIcD...