The anti-stimulus types who have been apoplectic about the FedGov Deficit warned us higher inflation, if not hyper-inflation would be just months away. That was last year.
Let’s look at the data:
From the BLS report on the Consumer Price Index on Sept 17:
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in August on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. … Over the last 12 months, the all items index increased 1.1 percent before seasonal adjustment.
The index for all items less food and energy was unchanged in August … Over the last 12 months, the index for all items less food and energy rose 0.9 percent …
That’s DISinflation, meaning inflation rate continues to decline. If it continues to decline, then we move from a positive inflation rate to negative – that’s deflation. And monsters lie in deflation.