Btw, even the people at the Fed are admiting that price inflation is starting to get out of control:
http://www.clevelandfed.org/research/commentary/2011/2011-20.cfmRecently, inflation, as measured by the headline Consumer Price Index, has been running at a sustained clipprices have risen over 4.5 percent in five of the past seven months, and in July they increased at an annualized rate of 6.2 percent.