There is a difference between price increase for specific products or services and inflation. We are at great danger of over deflating at this point. The nickel dime economic weasels who have been saying we suffer from inflation are simply wrong.
You can have both at once. Yes, deflation is the problem. The deflation comes from the fact that not enough dollars are chasing durable goods. Right now all dollars are either going to pay down consumer debt, pay for shelter, food, and medicine (all of which are way, way up), or paying for the cost of government (which is way, way, way up at all levels).
What you are seeing right now, this inversion - the inflation of staples coupled by a deflation in durable goods - is the inflection point. This is where it starts to roll over.
1930’s Germany, Weimar. Venezuela. Greece. Same symptoms - bread is expensive, but you can’t give away financial services. Lawyers are on the streets. 2 year grads from nursing schools can’t get jobs (now you need a four year degree, since its a buyer’s market now)
Remember when nursing was going to hire all those people?
$1.4 T in US government debt sold last week - 0% yield. That’s money that isn’t buying capital equipment, expanding the number of stores, training new people.
That’s the sign - when loaning Uncle Sugar your money for free is more attractive than ANY OTHER INVESTMENT OPTION AVAILABLE, the log is about to roll over.
Look at how many companies are buying their own stock! Notice that the shareholders are no longer punishing the stock price for that anymore? Used to be, when a company bought its stock, it was a sign that they were out of ideas for growing the business and were hoisting the white flag.