Inflation Watch

Another report today on inflation that essentially says "there's no inflation except in things that are inflating". Take out energy and food and inflation is "tame". With food and energy, inflation is increasing. And remember, these inflation numbers include deflation in housing.

I guess it's a glass half full/half empty discussion that is mostly academic. It feels inflationy in my life. But where it matters is in how it affects people's behavior. If folks start to pull in their shopping horns due to economic pressure, the economy tanks. It's really that simple.