Peter talks here about inflation rearing it's ugly head, with important data points and good analysis.
Lets be clear on something..... Inflation happens when the Federal Government cranks up the presses and magics more money into the economy. Every time that press goes 'KaWhomp' the money in your pocket just became worth less. More dollars chasing the same goods... inflation.
Inflation is a tax. A HUGE tax. They are transferring wealth from your pocket to theirs, just by walloping some more paper and calling it 'money'.
Yesterday I filled the tank on my Ranger and bought half a cart of groceries for two people. That's $150 I'll never see again. I got the same 'ol stuff I usually get, but was on the wrong end of inflation, so I had to work longer hours to get enough money to buy what used to take fewer hours of work. The difference is the inflation Tax.