My quart of Mayfield milk was in the $.1.19-$1.29 range pre-recession. Now, and it's been stable for a couple of years, it is about $2.79.
The thing about the old inflation basket of stuff is that it periodically gets adjusted for stability by changing the contents of the goods in it - when the whole point of the basket of stuff in the first place is to measure the cost of the same goods over time.
Also, some hi-tech & expensive elective item that decreases in price a very small percentage, perhaps a PC, will offset the larger percentage rise of necessary staples.
Bottom line: Generally, the people that don't notice inflation aren't concerned with how much they pay for their groceries or other day-to-day items. They just use the old CC and pay the bill monthly without a thought as to the amount.
OTOH, folks struggling to get by sure as hell notice what is the price of a quart of milk. jmo
Depends more on whether they're buying or selling. Lot's of folks belly ache about through-the-roof inflation and how say, the food they buy is so expensive, and then they clam up when it comes to how much their salaries have been inflating. Interesting you mentioned milk because the reason that the dairy industry's not at all happy about the price of milk is because they say it's too low: U.S. milk prices face downward pressure, analyst says
Where are you buying that milk?...2 per cent at the Milothian Va Krogers and Martins are 2.79 a gallon and actually the prices have been stable even dropping of late(Richmond suburb) Even the 7-11’s have whole milk gallons at 3.95. Wow!