This year, public sector employees are seeing their earnings eroded by retail price inflation at 5%.
Food price inflation "is exacerbating the challenge of monetary management in anchoring inflation expectations, " it said.
Rising food price inflation is expected to bedevil small groceries as well as the giant supermarkets.
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And it will not be pressured by high consumer-price inflation, as it was in 2008.
In particular, the case for a general annual pay rise, tied to consumer-price inflation, is vanishing.
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Fans are still in the red when it comes to ticket price inflation and their income.
The dot-com bust that began in mid-2000 had done nothing to slow down house-price inflation.
Without these changes, many new startups will fail, and price inflation will go up.
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Input price inflation continued to ease, although remained sufficiently strong for businesses to raise output charges.
Faster house-price inflation will mean more consumer spending than expected, and even faster growth.
Asset price inflation is much easier to diagnose through the rear mirror than in real time.
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All these things can swell domestic demand and so push up general price inflation.
Then, excess demand resulted in higher inflation, huge current-account deficits and rampant asset-price inflation.
House-price inflation has been slowing since it reached a peak of around 25% a year ago.
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Consumer-price inflation in the year to May jumped to an eight-year high of 3.4%.
The moment it becomes too comfortable, trendification leads inexorably to gentrification, accompanied by rapid house-price inflation.
In Britain annual consumer-price inflation was 2.4% in July, down from 2.5% in June.
It is rare for lenders to lend below the rate of consumer price inflation.
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Italian producer-price inflation slowed to 1.4% in the year to July the slowest since September 1999.
Even before food-price inflation became apparent early this year there had been reports of price-related unrest.
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Asset-price inflation is just as harmful for economies as inflation in the prices of goods and services.
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With nominal rates at zero, and core consumer-price inflation at 0.5%, you are still paid to borrow.
Food price inflation is felt disproportionately by the poor, who spend over half their income on food.
All of these factors and more could lead to price inflation and cause a global food crisis.
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Ironically, cyclical inflation is deflationary, particularly asset price inflation within the context of an extended deleveraging process.
Despite rising wages, consumer price inflation is still falling: prices rose 1.4% in the year to March.
The 12-month rate of consumer-price inflation has fallen to 0.7% in Germany and to 0.5% in France.
But Mervyn King, the Bank's deputy governor, said that house-price inflation appeared to have passed its peak.
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Chen's next round of experiments may introduce the monkeys to yet another irrational human habit: price inflation.
As consumer-price inflation was still 4.1% in the year to November, deflation might seem a remote prospect.
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