I got the paperwork appointing me for the 2007 fiscal year today. And I got a 3.3% raise. I think that's above inflation, except maybe for gasoline.
Meanwhile, I've been spending most of the day thinking about undergraduate research, as I am banging away on the fourth attempt to land an NSF Research Experience for Undergraduates grant. Three other times, they liked it and encouraged revision and resubmission. That I'm writing it a fourth time is a testimony to the triumph of hope over experience.