In 2021-22, when inflation was exploding, the average monthly growth rate was 0.6%. In other words, the CPI increased by about 7.2% per year. But as interest rates have risen, the pace of monthly growth has slowed. In 2023, average month-on-month growth was 0.3%, or 3.6% annualized, while year-to-date it has averaged 0.2%. , or 2.4% annualized. For pre-COVID levels, I calculated the numbers from 2009 to 2019. What I found was that inflation increased by just over 0.15% per month.