IPSO,
Although I agree with the quality comment regarding the SOBs, the inflation rate for the past 11 years has been far, far below 4%. It has actually been near the 2% mark. The 4% I quoted was an absolute worst case which had never materialized. Granted I can't speak for between 1982 and 1992, but I will agree that the early 80s were a bit rougher in the inflation rate than was the case moving to the late 80s on.
I attest some of the higher costs to simply cost increases that could be justified to increase revenue and profit. I surely do not claim that the entire 4% was inflationary at all.
Eric