I recently commented on how inflation has behaved where I live. At one time my grandparents said that with 10 cents they could have lunch in a restaurant, what they called "a complete meal" included everything, even a soft drink. When I heard those stories, a common worker could still invite his family of 4 or 5 members to eat at a restaurant. It was not as cheap as in my grandparents' time, but it was possible. Over time, that changed. Prices for everything rose gradually, until 2021. There was such inflation that to understand how it happened, I will explain it with an example.

A doctor earned 1,500 pesos, with that he lived regularly; people with bank accounts of 200,000 pesos earned 7% annual interest, equivalent to 14,000 pesos annually, divided by 12 months, that was 1,000 pesos and something. It solved their problem. Year 2021 salaries sky high, the doctor now 8500 pesos, not even enough to start the month, the 14k pesos for bank interest is diluted in 1 month.

That is the current inflation here, what used to last for 1 year, now barely lasts for 1 month.