A good indicator is the price of beer.
I use the Candy Bar Index. Which is now 1.05, for a candy bar that was 75 cents 2 years ago, and has risen from 15 cents in the past 30 years. The CPI says that the fifteen cent candy bar should be just 39 cents today, or a premium bar for a quarter would be 65 cents today.
Not really. My bar is offering 16 oz. glasses of Sapporo for $2.00 (it's on special). Last week I was paying $2.50 for Miller High Life. What's my inflation rate?