Bagel Index Is Showing Inflation's Bite By Jim Jubak MSN Money Markets Editor 11/22/2006 Inflation isn't dead, despite the recent official government numbers. In fact, it's a bigger problem than the Federal Reserve admits publicly. Stagflation -- high inflation and low growth -- is still very much a possibility for 2007. How do I know? My bagel inflation index tells me so. Here's what happened to me one recent morning. As usual, I stopped off for a bagel and schmear after I dropped off my daughter at school. As usual, I handed over $2 and waited for my change. But...