evidence: "The war on inflation is over," economist Paul Krugman, a New York Times columnist, wrote recently on X/Twitter. "We won, at very little cost." That must come as a shock to the many Americans who are demonstrably poorer because of the rampant inflation of the last couple years. The latest consumer price index (CPI) data shows that prices have risen more than 17% on average since President Joe Biden took office and are on pace to double in less than 12 years. The typical American family has effectively lost $7,300 in annual income under Biden. [...] In the first place, inflation is not down for the count—not by a long shot. Prices are up an average of 3.7% in the last year, which means they’re rising more than two and a half times as fast as they did when Biden took office. Inflation is nearly twice the Federal Reserve’s 2% target.