Raw Data: Inflation Is Going Down, Down, Down
It's now below 1 percent.
Via the Wall Street Journal, here's how inflation has been doing over the past year. Long story short, it's been declining steadily since the end of 2012 and is now running at about a 1 percent annual rate. Bottom line: we should be worried about unemployment, not inflation. Until the labor market gets tighter, inflation just isn't likely to be any kind of serious problem.