Since 1970, inflation has always been positive. There have been times when inflation was a major economic problem as shown in 1918, 1947. Deflation has been a concern too especially during the Great Depression. In the 1990s, prices have seemed to stabilize. Does that mean that inflation isn't a problem?
I think the FED can control price changes with monetary policy. Price stability has been the result of artful policy by the FED. I am worried that the government spending by the Obama administration will fuel the flames of inflation.