The "official" rate of inflation is low, but I think that it is bogus. Maybe pizza and cars haven't gone up in price much in the last decade, but other big things (such as education and health care) have.
The official rate of inflation is intended to be a measure an increase in the overall money supply; it's an average.
The increased cost in certain segments is offset by deflation in other segments. While the healthcare market is booming, the energy sector has been decimated. In other words, life sucks if you're a sick oil worker, it's awesome if you're in medicine or production.
The "official" rate of inflation is low, but I think that it is bogus. Maybe pizza and cars haven't gone up in price much in the last decade, but other big things (such as education and health care) have.