Inflation Still Falling
This news surprised most economists: today’s release of the November CPI showed a fall in prices of .2%. The core rate, excluding food and energy, showed a fall in prices of .1%. The 12-month inflation rate in the US has now fallen to 1.20% (see this graph for context).
Those economists would have been less surprised if they had read this post. I’ll spare the bother of repeating it here, and just say: “Yup. Still true.”