Recommended reading: Monetary vs. "Price Inflation"

The first article here http://www.biiwii.com/analysis.htm is called Monetary vs. "Price Inflation" by Steve Saville.  It gets to the point of how inflation is what policy does, not what prices do in response.  Read it.  In my opinion, prices are only starting to respond to chronic inflationary policies after policy makers were given license during a nice 'deflationary' 2011.

There is other good reading for you to consider as well.

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