This blog post was pointed out to me on January 18th by +Nick May.
Brickset posted an article about it on January 21st. There is some good discussion going on there.
Andrew Sielen has written a post on his blog looking at the current price of Lego and comparing that to the Lego prices of the past. He comes to a few interesting conclusions.
There's something about this article that bothers me. I can't figure out what it is though. I'm sure that he's correct in general that Lego prices on average haven't gone up and that it's age/reporting bias that makes us think so. But I think his conclusion that licensed sets are no more expensive than regular sets is wrong. I suspect it may come from the inclusion of the Ultimate Collector sets in with the regular sets. Even though they're licensed sets, they're not part of the regular line and the low PpP (Price per Piece) helps to drive the average down equal to the non-licensed sets.
It is a good read though.