Inflation numbers came out a little while ago and it continues to show a decline in overall inflation rates excepting the volatile food and energy segment. All the data shown is year over year, non seasonally adjusted.
For all of you looking for inflation, where is it? Money supply is falling (I'll post about that soon(tm) ), credit is contracting, the dollar is getting stronger, and inflation is falling. Longer term I concede it is possible but over the next 12 months I don't see it.