When to worry about inflation

Hint: It's not about the price of used cars.

"After WWII - Hungarian inflation paper money, 1946" by takacsi75, CC BY 2.0

A bunch of my friends are asking me the same question these days: “Should we be worried about inflation?” To many people, the answer to this question is a categorical “no”. For example, my Bloomberg colleague Joe Weisenthal notes that if you take out used cars and trucks, core i…