This is often overlooked and misunderstood. When most people talk about inflation they are really talking about price inflation of goods not currency inflation. While currency inflation effects the price of goods it isn't immediate nor is it uniform. The price of goods is very complex. You have producers reducing the portions, diluting quality/purity, and finding more innovative ways to keep prices down. This masks / distorts the affects of currency inflation. Many things other than currency inflation will affect prices as well.

The other interesting thing I learned last year about inflation is to start thinking about the affects of US dollar inflation and how the effects are much different on other nations vs. the US. At least in the US sometimes we do get some positive effects of money printing. New infrastructure for example. Its still not worth it but we get something. Other nations do not get these benefits. Only the negative effects