Inflation has gotten more attention lately as price increases at the gas pump have taken a bite out of Americans’ disposable income. For many, the personal experience of having to pay more for prescription medications, rent and food makes budgeting increasingly difficult, especially for those on fixed incomes who haven’t seen much in the way of boosts to paychecks or Social Security payments lately. Yet official readings from the Consumer Price Index indicate low levels of inflation, running at around 2% per year over the past several years.

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