Inflation food for thought

I think inflation is on the way although it is not yet in the Gubment's figures. Then I saw this post by  Joseph Barbuto in a chat room:

"But keep in mind — the biggest ingredient by cost in a box of Corn Flakes ain’t corn — (not cardboard for the box) it is labor. This is true for many processed products — including food — the biggest input costs are labor."

Good point and I'll certainly agree that there is no inflation in labor costs.  Just ask my accountant when the last time I raised my prices was (hint - never and I started in 2001).