Robert J. Samuelson writes that a big story is being missed:
We in the news business often miss big stories because they aren't announced by a corpse, scandal, invasion or controversy. One important story we're missing today is the absence of sharply higher inflation. Look at the numbers. For the past 12 months the consumer price index (CPI) is up only 2.5 percent; since 1997 annual increases have averaged 2.4 percent.
See for yourself with this handy graph provided by Economagic.