I don't think I've even heard a politician utter the word "inflation." That's beyond ridiculous because it's becoming a worse problem than unemployment. In fact, for most families, it's an even worse problem. Most people have jobs, but everyone is feeling the pain from the rising prices.
It's true that so many things are smaller such as bars of soap. That's the only reason why some products haven't risen as much in price. The companies compensate by giving us much less for the money, but the effect is the same.