[version_five]

I think yes and no. It seems like inflation is being played up a lot in the media, so its immediate impacts are exaggerated. But if your expenses are mostly coffee shops, restaurants, and electric car in the Bay area, you're likely in a bubble. That said, if you're not in the process of making a big capital purchase, and already have a high savings rate, you wouldn't expect to notice until you have to make a major purchase.

[PaulHoule]

If you are doing well in your career you might not notice inflation but if you are on a "fixed income" (e.g. a retiree) you feel it.