Some would argue, of course, that inflation well above 2% has been with us for at least a decade if you don't measure by the biased CPI. I don't see how it helps the argument to bring politics into this by saying such people are "right-wing [...] inflation fetishists". Didn't read beyond that.
What theory would you use to explain the evidence which shows that lifestyle recovery of many consumers which had come almost within reach, by less than 1 percent, never did actually arrive and has been moving back beyond reach faster than 1 percent for a while?
Everyone knows that 1 percent is less than 2 percent so it has to be some other explanantion besides "that's not nearly as bad as 2 percent".
