The Federal Reserve building in Washington, in this file photo. MDart10/ShutterstockCommentary

Inflation is the most insidious tax because it is the least visible. If the tax man took 30 percent more of your income this year than six years ago, you would be in a state of fury. Inflation does the same thing, but leaves only confusion and disorientation in its wake, a sense that something is deeply wrong but with an explanation that is opaque and a bit abstract.

We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.