Back in the late 1979 through 1981 the inflation rate was over 10%, with a high of 13.5 in 1980, much higher than the 2 - 3% average for the past few years.

Here is information on historical inflation rates: Historical Inflation 1914 - 2011

In Las Vegas, we've already been told that our home electric bills are going up 15% in January, and we've already seen increased local government fees for such things as drivers license and car registration renewals. At our Colorado house, the town electric department added new fees that increased my electric bills by $575 per year even before they start charging for metered usage.

Here is a list of things we can expect to go up in price this coming year, from msn.com:

Food for home preparation. If your grocery bill seemed higher in 2011, you weren't imagining things. Most retailers have reported that food prices are rising and those increases are being passed along to shoppers. Food costs rose about 3.75% this year and will likely go up at least 2.5% more in 2012. Increases are likely to affect food eaten at home, rather than restaurants where those costs are easier to absorb when combined with sales of liquor.

Mobile device data plans. Data plans in the past have had a tendency to decline, but as carriers build out 4G services, and move away from unlimited plans, data is set to become more expensive in 2012.

City-enforced fees. As municipalities look for ways to make up for budget shortfalls, fees for everything from dog licenses to vehicle registration and parking rates are going up, as is enforcement of fine-related infractions. In Chicago for example, a nonregistered dog can elicit a $500 fine, while parking fines in Portland, Ore., are going up 18% as the city tries to make up a $16 billion transportation budget deficit.

Water. Many U.S. communities will face water rate hikes this year, even places that are rich with the natural resource. Water rates in the greater Chicago area will increase by as much as 25% next year, while the parched high desert Denver market is set to rise an additional 5.5%.

Gas. Fuel prices began inching up just before the holidays, and 2012 is looking to be another budget-breaking year at the pump, with prices once again topping $4 per gallon.

Gold. The precious metal is poised to achieve its 11th straight year of growth. Gold prices bounced around a lot in the second half of 2011, but analysts expect it to rise roughly 12% in 2012. It's a conservative estimate and a lot lower than the 17% annual growth rate of the past decade, but most believe gold will be more expensive.

Shipping. The U.S. Postal Service will raise rates by an average of 4.6% next year, while both FedEx and UPS are hiking small-package rates by 4.9%. Personal shipping will certainly cost more and it's anybody's guess how long retailers can continue the ubiquitous free-shipping offers as rates rise.

Domestic and international airfare. Greater demand and fewer available airline seats will likely lead to higher ticket prices for flights next year. American Express predicts prices within North America will increase up to 5% for economy seating, depending on the length of the flight, and up to 7% in business class. Things look more bleak for European travel. A new "green tax" implemented by the EU is aimed at reducing emissions, and it will levy a fee of roughly $15 per passenger, each way, for flights to the U.S. Fees on shorter flights within the EU will be taxed slightly less.

New digital camera models. Smartphones have quickly replaced budget-friendly point-and-shoot cameras, so manufacturers and retailers are focusing more on higher-end digital SLRs. This year, consumers may have a hard time finding a newly released digital camera with an inexpensive starting price as the market is moving toward more feature-rich products.

Hard drives. There's been a shortage of hard drives thanks to epic flooding in Thailand in 2011, and some retailers have actually been rationing hard drive–based products. As a result, we've seen fewer hard drive discounts. Expect continued shortages throughout the first quarter of 2012, which is when experts predict that production will begin to catch up to demand.

Desktop computers. The consolidation of desktop features into monitor-integrated units -- many with touchscreens -- will drive desktop prices up in 2012. Expect average selling prices to increase roughly 30% on new desktops.