History of Inflation
There is a very good video that gives a look at prices that I had not considered, that when production grows with your money supply that also keeps inflation down.
It certainly ties in some basic observations. For example, I think people's actual cost of living increases are far, far, far above the CPI, which averages the necessities down with things like I can still find blue jeans for the same price as when I was a teenager. I feel like I see two different co-existing economies. Go to Costco, or Wallmart and there are tables of products for sale for the same price as 20 or 30 years ago. It is partly how the low income wage earner is able to still survive. At the same time you can find goods that are up 300-500%. Take a good quality winter coat for example. I could definitely get a very good coat for well under $100 and now you can see them for several hundred dollars. But, when you look at food, shelter, and energy I think those are up 300-500%. I used to buy chickens for $2 that cost me $10 today. That works out to about 5.5% price increase per year yet there has hardly been a year when over 2% has been reported.
And what I think of as primary production items, like the metals and natural resources, have also increased well ahead of reported CPA.
I completely agree that we have already experienced inflation, we just haven't been able to see it.