Anyone who's bought gas, paid a medical bill or sent a child off to college recently knows that the Consumer Price Index doesn't tell the whole story of inflation.

Indeed, says Robert DeHollander, an advisor with DeHollander & Janse Financial Group in Greenville, S.C., "We think we're already in an inflationary cycle." He cites the massive amount of global debt issued in the wake of the 2008 financial crisis as the reason he expects prices to rise sharply.

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