"Matt Barrow" wrote in message
...

"Dave Stadt" wrote in message
I suspect people said the same thing when av gas went past $.50 a gallon.
The price of gasoline is still well behind the inflation curve.

Quite!

http://txfx.net/2005/06/22/oil-prices-peak-well-no/

http://www.fintrend.com/ftf/images/c...n_20050404.gif

Huh? If the price of gas or oil were "well behind the inflation curve", then
the inflation-adjusted price would show an overall *decrease*. In fact,
though, the inflation-adjusted price (according to the graph you cite) is
now *three times* what it started as. It's true that the inflation-adjusted
increase has been non-monotonic, according to the graph (there was a brief
earlier spike above the present level); nontheless, the price has--both
recently and overall--raced far ahead of the inflation curve, not behind it
as you state.

--Gary