A few months ago, it was considered anathema to discuss the very thought of inflation.

Today, this is the news:

There is a silver lining, though: Inflation was expected to rise by 3.6% and we only had 3.5%!!

I have to admit, this is better than CNBC's other recent silver lining:

The negative news, of course, is that you're still losing quite a bit of money if you get a mediocre raise this year.

Oh, and also that this metric doesn't even include the increasing cost of bacon and fuel:

The personal consumption expenditures price index, which excludes food and energy, was expected to increase 3.6% at a time when the U.S. economy has seen its highest inflation pressures in more than a decade.

That gain was slightly ahead of the 3.4% May increase and represents the biggest move since July 1991.

The experts at the Fed say this is all a normal part of re-opening the economy and that there's nothing to worry about when it comes to Congress blowing through trillions of dollars at record speed.

I mean, if there's one thing I learned in the last year, it's that experts are always to be trusted when it comes to my health and money.

At least income rose due to the government giving us money it doesn't have!

Personal income and spending numbers, however, were better than expectations as consumers flush with stimulus cash kept the economic rebound going.

Income rose 0.1%, better than the estimate for a 0.2% decline, while spending increased 1% against a 0.7% forecast.

Zero-point-one percent! WHOO HOO!!

Meanwhile, when we include food and energy:

On the price inflation front, the PCE index including food and energy increased 4% from a year earlier, its largest increase since July 2008, just before the worst of the financial crisis hit. Energy prices rose 24.2% and food moved 0.9% higher.

This is all fine though. Just ignore those guys in DC wanting to spend your great-grandkid's cash on "infrastructure" and enjoy the ride!