Comment Re:Cumulative effects (Score 4, Informative) 214
The numbers reported are year-over-year inflation. So if inflation was 9% last month (i.e. september 2022 compared to september 2023) and it is now 3% (november 2022 compared to november 2023).
Your numbers would be correct if you started out with $100, kept them at home sewn into the mattress, and then for a whole year the inflation was 9% and then the following year was 3%. But it is a bit more complicated than that.