A mountain chart showing the share of both goods and services inflation basket components that have risen by more than 4% on a 3-month seasonally adjusted annualized basis. The prepandemic average was 45%, but since the pandemic more than 50% of inflation components have risen by more than 4%. The share of services components rising more than 4% peaked at 73% in November 2022; the share of goods components rising more than 4% peaked at 19% in 2021. Through September 2023, 54% of services components and 1% of goods components had risen more than 4% year-over-year, compared with 69% of services and 19% of goods through September 2022.