"When confronted with the Fed's claims that there's no inflation in the economy, most Americans who don't have a PhD in economics would probably react with a mixture of confusion, frustration and disbelief. The Fed likes to treat inflation like a giant mystery that can't be cracked.

But anybody who has been to a restaurant, supermarket or paid a rent check over the past decade can tell you: Prices are rising much faster than the CPI would have you believe." 

Interesting info regarding 'the price of things' and corresponding effects on wage compression- HR and finance department headaches galore!