CNN: "Prices for just about everything are going up"

Yes, inflation is soaring. Anyone who has taken a basic economics course--and paid attention--knows that when you recklessly pump cash into an economy, inflation is the result. 

From the Hill:

Consumer prices rose 0.5 percent in July and 5.4 percent over the past 12 months, according to data released Wednesday by the Labor Department, but the monthly pace of price increases fell sharply.

The consumer price index (CPI), a closely watched gauge of inflation, rose at a much slower monthly pace than June’s torrid 0.9 percent increase. Even so, the 12-month increase in the CPI in July was even with June’s rise of 5.4 percent, the highest annual inflation rate since August 2008, as the reopening of U.S. economy ramped up demand for a wide range of products.

It's so bad even CNN is taking notice.