Wages in China rose from 14% in 2000 to 50% in 2012. The Chinese are raising the price of manufacturing and all the big companies are under pressure, though. Since 2001, hourly manufacturing wages in China have risen by an average of 12% a year. The yuan has risen to an all-time high against a trade-weighted basket of currencies. Also the purchasing power of your dollar has declined in recent years. The national debt is more than $18 trillion. Foreign holders of this debt are always uneasy that the Federal Reserve will allow the dollar's value to decline so U.S. debt repayments will be worth less in their own currency. The Fed's quantitative easing program monetized the debt, artificially strengthening the dollar to keep interest rates low. Now that the program has ended, investors are concerned the dollar could weaken. So basically the entire recession or mini depression that we were experiencing back in 2008 has been prolonged by the Federal Reserve's monetary policies.
So Yes everything is getting more expensive !!!!