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1.
The price of commodities rising due to the influx of hipsters consuming and raising the demand for specific items, activities and services such as Pabst Blue Ribbon beer, camping, hiking, beard maintenance, flannel shirts, tight jeans, vintage clothing, huge eye glass frames from the 1980's, vinyl records, cassette tapes, pretty much anything analog, Huffy bikes, Nintendo and tenement housing.
"Man! Last year the Monday night special on PBR was $1 for a pint...why is it $3 now?"

"It's because of douchflation, all the hipsters in this college town have driven the price up because they have turned this uncool thing into a pseudo cool thing."
by AeonClaw October 15, 2011