Does Krugman Need An Eye Test?

Krugman is running this chart and doesn't see climbing inflation. During this period the purchasing power of the dollar has been declined dramatically. According to the Bureau of Labor Statistics, it takes $1.26 to buy what cost only a $1.00 in 2001. This is all cool with him, unless, apparently, price inflation accelerates. Which is what is going on and will show up in future data. Just more to keep in the Krugman nonsense file.