Has there been inflation recently?

But the other question raised by Tom (on the March 21 post)  is also a very good one.  Has there really been low inflation?  You can check prices and see.  I will look at only one commodity.

In the flight to safety of the last 10 years the items chosen have been dollars and gold.

Eight years ago gold sold for $400 an ounce.  For the last two years it has ranged from $1600-1800 an ounce.  It has doubled twice in 8 years.  That is a doubling time of 4 years.  By the rule of 72 (which works for interest rates as well as inflation rates) - "Doubling time" X "inflation rate" = 72.  You get 4 X "inflation rate" =72.  By that measure the rate of inflation for dollars has been about 18% per year.