I think part of the problem is that people see rates of inflation in the news, but their mind thinks in terms of cumulative inflation. They think, "housing has gone up 30% since before the pandemic but the government says inflation is only 9%." Even though, 9% inflation per year over 3 years is 30% total.

Then there's the fact that inflation stats are an average of a "basket of goods". So housing might go up 15%, but that's offset by other items going up 2%. Then there is regional factors, and how inflation is mentally sticky (i.e., people making jokes about the price of eggs, even though wholes prices are down 80% over the past 4 months).

But the big conglomerates that own all the branded products saw an opportunity to jack up prices without taking all the heat.

Speaking of which, if you grab a package of mccormick's chili seasoning off the shelf in your store, it will tell you to buy a 15 oz can of tomatoes. Cans of tomatoes have been 14.5oz for at least a decade, and this seasoning product has had that recipe on the back changed at least 4 times in as many years, yet they never admit to the shrinkflation that happened to those cans of tomatoes.