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What does an x% inflation rate actually mean?
As pointe out by @quid, inflation figures are almost always quoted as a comparison of prices last month, and prices a year ago last month.  So 10% inflation in August means that things cost 10% more than they did in August a year ago.  This can lead to some perverse conclusions. Consider an imaginary economy where prices stay constant over years.  Annualized inflation is zero. Then something happens on January 2nd, 2018.  Some crop fails, a foreign cheap source of something becomes unavailable, whatever.  Prices rise, permanently, as more expensive sources are used. This is the only disruption to prices. Nothing else goes wrong. So, in February, 2018, the authorities find that prices in January, 2018 rose by 1% over January 2017. Inflation! Politicians pontificate, economists wring their hands, etc. In March, again, prices for February, 2018 are found to be 1% higher than for February, 2017.  More wailing... This goes on for months.  Every month, inflation (year over year) is unchanged at 1%.  Everyone has a theory as to how to stop it... Finally, in February, 2019, there's a change!  Prices in January, 2019, were the same as in January 2018.  Zero inflation!  Everyone takes credit for bringing down inflation...