The graphs you've shown indicate nothing about "out of control". Krugman"s central claim is actually quite true. There are very good reasons most economists D

The graphs you've shown indicate nothing about "out of control". Krugman"s central claim is actually quite true. There are very good reasons most economists DO NOT include commodities like oil and food in inflation indicators: they're highly volatile, as you point out. And they tend not to be correlated to other inflationary indicators. Just look at the Gold crash the past two days, and oil crash today. Please explain what economic model you use to indicate your preferred economic policy? Krugman uses standard IS-LM, which has been vindicated time and time again during this crises.