[alaricus]

Inflation isn't a single number. It's reported as a single number because anything more doesn't fit into a headline.

Different things inflate in different amounts. Right now the inflation on fuel is much higher than the inflation on tomatoes or hotel prices where Russian instagirls used to visit.

When central banks started printing money, people didn't bid the price of bread, butter or automobiles up. So this didn't register as a increase in the cost of living (except for housing, which they did indeed bid up).

This central bank money went to financial assets like stocks. That is why the price increases in stocks have been faster than the price increases in consumer products.