Inflation is boring until it happens to you or someone you love.

As one of those terms that some econ professor droned on about forever -- did you catch the difference between cost-push inflation and demand-pull? -- the intricacies faded into more pressing issues of job applications and apartment leases.

For a long time, inflation hardly even seemed to exist for Americans. Laptop computers kept getting more affordable all the time and fashionable clothes could be picked up cheaply at Target, Wal-Mart and Steve & Barry's.

But the nation is rediscovering the pain of paying more. The cost of a dozen large, grade A eggs has gone up more than 30 percent in the past 12 months and a loaf of whole wheat bread is up more than 10 percent, according to the U.S. Commerce Department. Gas prices have turned a drive to work into a luxury, and it all hurts more because salaries aren't keeping up.

Everybody understands what that means: "Your paycheck is not going as far. You have to start making decisions about how you allocate cash to your primary costs," said Jay W. Sukits, assistant professor of business administration at the University of Pittsburgh's Katz School of Business.

Painful as it all is -- and Mr. Sukits does not contest that point -- the recent inflationary surge has not turned into a rerun of "That '70s Show" yet.

Three decades ago, oil supply issues helped trigger government wage and price controls that, when lifted, triggered a surge of price increases. Inflation hit double digits, making the 5.6 percent annualized rate reported by the Commerce Department last week look relatively tame.

Rising energy prices have played a role this time around, too. Demand from growing economies elsewhere in the world means more money is chasing available fuel and anything transported is being hit, not to mention packaging made from petroleum products. The shift of grains into fuel production has been a factor. To top it off, the dollar is weak, so it's more expensive to import goods.

Core inflation, defined as the cost of a basket of goods and services after taking out volatile food and energy items, actually has not risen dramatically so far, according to the federal statisticians. That's useful to know because it helps factor out short-term swings, said Mr. Sukits.

Yet, at the moment, the average person is probably more focused on exactly those volatile categories. "I think this is the inflation that is hurting consumers very badly," he said.

Don't we know it. Academic discussions of causes and long-term implications aside, people have moved quickly to take steps to make their money go further, from skipping vacations to buying in bulk to trying discount stores and rediscovering coupons. Whatever it takes until the next economic shift comes along.