[01100011]

In the Bay Area I've seen groceries creep up a bit but basically everything I buy(rent, fuel, consumer goods, information/entertainment services) has stayed the same over the last year or two.

Now, thanks to economic inequality, I think a lot of folks are feeling effective inflation, but the true value we define as 'inflation' has not risen much yet. Sure, some things are up, but they're not included in the calculation of 'inflation' so it makes sense to talk about them in different terms, I think.

[adam_arthur]

Inflation is a general term for when the nominal price of goods increases disproportionately to the intrinsic or real value.

Inflation as represented by CPI is only one measure of inflation. Just because the Fed uses that measure to drive policy doesn't mean there isn't inflation in other areas of the economy, like housing.