First of all, there's no evidence it's going down. Secondly, 10% is a wild figure. That's far over the breach for the population to begin to alter their behaviour by either hoarding or spending.
My point was, the mentality of coping with even 10% inflation is very foreign to Americans. But it's a learned skill, and people will learn it. When they do, it will resemble Argentina during the 10% phases (2003-2012 for instance). That's not necessarily terrible if you're coming down from 100%, but it's a brand new experience that Americans haven't come around to.
And it does a lot of very weird things to your politics.
It makes everything more populist far-right or far-left than it would need to be otherwise. It feeds into conspiratorial thinking. It is a regressive tax.
10% is a HUGE regressive tax right now on American citizens, and it's kind of a miracle that they haven't rioted more.