Though accelerating, the rise in labour productivity over the past few years (of 1-1.5%) still compares unfavourably with the 3% average recorded during the first two decades following the Second World War. And, where inflation is concerned, it may be noted that it was low until the mid-1960s, averaging 1.3%.
The current developments in the United States, which are now beginning to tarnish somewhat, therefore have much more in common with the situation in the first half of the post-war period (though there are also quite a few differences), and can hence hardly be called exceptional.