The iPad says there's no inflation, so there is no inflation

Almost every commodity, other than natural gas, is up the past 6 months. Oil, corn, copper, iron, wheat, soybeans have all had tremendous increases in price, some of them doubling and tripling in price. But the federal reserve says to ignore all that because this year's iPad model is the same price as last years.
Unfortunately, as one attendee said, " "I can't eat an iPad." I also can't put an iPad in my gas tank. But I can kill the green pigs that ate my eggs, so it's all cool. Perhaps we should give iPads to all the people rioting around the world because they can't afford food. In fact the first generation iPad has actually dropped in price, which is clearly evidence of the dreaded deflation.

Disclosure: I may or may not own any of the securities mentioned and am not an investment advisor. Please do your own due diligence before investing in any securities mentioned.