Inflation is defined as an increase in the money supply and not as many economists falsely refer to it as an increase in the cost of goods. The price increase is a direct result of inflation, but it is not the definition but just a symptom of inflation. If one looks at the above two charts, one immediately spots how dramatically the money supply has risen in the last 12 months.
In less than 12 months the money supply has increased to a level that is double that of 2003. M1 is increasing at levels not seen for over 40 years; take a moment to digest this fact, when the economy is broken, when savings are low, when companies are scaling back, we have drug addicts driving the printing press to the breaking point. 1+ one always equal two and pushing the printing press into overdrive must equate to some form of very strong inflation and most likely hyperinflation.