You can still get milk for $2.70 a Gal at Ralph’s and Winco,
The only way I see inflation is if the Chinese start to become the new Americans and we become the new Chinese, I can see a little of that but if that bursts then all bets are off and we are back to deflation big time.
The internet and Globalization are extremely deflationary.
Oil will only continue to go up until we all are driving cars that get over 40 miles a gallon or use NG or no gas, very doable IMO.