A crucial responsibility of any central bank is to control inflation, the average rate of increase in the prices of a broad group of goods and services.
The growing capacity of foreign countries to supply goods and services to the U.S. market has impacted the structure of wages and the bargaining power of workers.
There's more of the same on the horizon of good times. There's no obvious reason for the good times to end.
Models used to describe and predict inflation commonly distinguish between changes in food and energy prices - which enter into total inflation - and movements in the prices of other goods and services - that is, core inflation.