News outlets have been feeding us with annualized rates, which is making this 0.9 figure sound pale, but it's pretty big because it's for July only. Times 12, it means inflation over 10%. The 3.3% annualized figure in the article is because they've been averaging the past 12 months.
Something in July made the prices jack up in a really serious way.
Something in July made the prices jack up in a really serious way.