[ThinkDifferent]

The deflator, is it? Paycheck deflator. 3% sounds about right if it is for the qurter. That's 12.5% per annum

Presumably that's an annualized rate. We're not anywhere near 12% inflation.

[RightWhale]

An 89 cent can of chili beans is $1.29 now. And while we are discussing gas, gasoline has been increasing at an annual rate of 46% lately. This is the personal consumption deflator. This is the inflation we care about, not that bogus national inflation index they use to rate Ibonds.