Little nervous about inflation. Inflation top is definitely NOT in.
Is the top inflation adjusted?
Some people think so. When you pin down an inflation conspiracy theorist (i.e. those who believe the feds have been under-reporting for years, and actual inflation is like 10% per year) and show them what exactly it would look like if prices increased 7-10% a year for a decade using well-known items with a well-documented price history, and then show what prices actually were in the past, they usually change the subject to talk about shares of stock being "inflated". So if the inflation conspiracy theorists are right, then the value of companies are going up because actually the purchasing power of the dollar is going down. All data about groceries, energy, cars, services, manufactured goods, etc. are anecdotes that can be offset with other anecdotes.
These people are obviously wrong, not because of the data, but because their conclusion would mean the top is not in, when in fact it is.