The fear of inflation is there but the latest figures I am aware of put the inflation rate at below 1.0% (If you never need to buy food or fuel). Some even worry about the prospect of deflation.
The CPI is not inflation, it is government propaganda. Even it has shown %20 inflation in recent years if you read the report and do the math, rather than listen to the talking heads on CNN.
Impossible to have monetary deflation when the money supply is expanding.