The graph provides two series: one that accounts for all items in the (urban) consumer basket of goods and services and one that removes food and energy from the basket. What the heck?? Why would anyone do that? Do we not eat every day and face those prices? Do we not use energy to get to work every day, get out kids to school, etc. Do we not face those prices? What's up? Why does Fed, and economic forecasters, like to remove food and energy from the series they work with? Do these two series behave as expected - relative to each other? b. What jumps out regarding the inflation rate in the recent economic environment? c. Setting the most recent inflation experience aside, consider the graph below. What stands out from the nearly 40-years before the pandemic relative to the roughly 70 years before that? That is, split the graph at about 1983 and consider the time periods on either side. Why is this "regime shift" a big deal for the economy? d. How many periods of deflation - roughly - were there before 1955? After