Am I missing something about GPT-5.5 efficiency?

r/singularity
Generative AI

OpenAI said GPT-5.5 was supposed to be cost-efficient, but this Artificial Analysis chart seems to show Codex + GPT-5.5 using tokens than Codex + GPT-5.4. GPT-5.5 is around 2.8M tokens per task, while GPT-5.4 is around 2.5M in the same Codex setup. Am I reading this wrong? Is there something about cached tokens or pricing that makes this efficient in practice? Small note: Opus 4.7 seems to use much fewer tokens here too, but I know that’s not the clean comparison. The direct comparison is GPT-5.5 vs GPT-5.4 in Codex. Also, pretty impressed with Cursor here.