The "No Inflation" Dissembling

Let's see how the "there's no inflation here!!!" crowd plays this in a couple of months:

Pressured by high commodity costs, Procter & Gamble Co. and Colgate-Palmolive Co. said they would raise prices on consumer staples .... P&G's price increases will be particularly extensive, between 3% and 12% on goods including diapers, fabric softener and pet food.

Not long ago, P&G products comprised about 50% of a grocery-store's offerings. That may be different now--regardless, this will be noticeable.

The post above has another clear indicator.