What's become apparent is that with the Fed armed and eager to "create" economic growth while fighting a non-existent deflation, Americans will once again experience the stagflation of the 1970s.
Given all of the factors that contribute to inflation in the short run, this correlation is truly remarkable, but there are near-term deviations in times like this when central banks are fighting deflation trends actively or due to economic swings, currency changes, spikes in oil prices, or other factors.