Well its nearly 2023, and we have had 10%-ish inflation going on about 2 years.
In specific areas such as cars, you had complete dislocations.
For example used cars which normally depreciate 15-20%/year, instead inflated about 15%/year for 2 years.
Over the summer I traded in a 4 year old car at the end of its warranty of 85% of what I paid for it new. I probably could have sold private party and haggled harder to get closer to 90%+ Normally 85% is what you can expect to sell your car for right after you drive it off the lot on your second day of ownership.
This was a knock on effect of new car production shortages, and pent up demand from low 2020 sales and people having a lot of cash on hand.
Related to this you had dealers adding market (ADM) on not even luxury/exotic vehicles of $10-15k in some areas. So never mind not being able to negotiate a few $1000 off, people were paying sticker+$15k for new vehicles for the privilege of being able to buy one. And this was on top of the sticker prices ticking up over the course of the pandemic and related inflation.
So no, for many things, it was not "just a year of 11% inflation".
Similarly for watches, luxury watches basically doubled during the pandemic in pricing before crashing from their springtime 2022 peak. Still +40% versus pre-pandemic levels.
