Many years ago I read an article, I think it was in the Economist, that talked about inflation.
They had plotted a graph of inflation from the middle ages up until the early ’90′s using historical documents that listed the price of bread, beer, apothecary’s leach treatment fees etc.
It showed that over about 400 years, the price of a loaf of bread (minus the added wood pulp) had basically stayed the same at about 1d in England.
Over the years it had risen, during the Civil War or when Napoleon went walkabout, but after the times of uncertainty it always returned to the “proper” price.
All that changed in 1913. The graph showed exponential rise during the 20th century.
The conclusion was that inflation was a modern blip which would probably settle down in time.
It could of course be that the FED was started at that time and the FIAT money printing machines round the world have never stopped since.