Exactly right. Inflation is almost always an upward ratchet.
Believe it or not, deflation is even worse than inflation because spending collapses. People wait for the expected cheaper price tomorrow.
How often does this actually happen? Is the FED so scared to death because of the Great Depression and how they screwed that up that they do everything irrationally to avoid even the slightest deflation because they think it will be the end(gun shy) and promote a low percent of inflation?