This morning’s release of new CPI figures showed that, once again, we’re seeing pretty tepid inflation.
Consumer price inflation fell to 1.0% year over year in October from September’s 1.2% rate, well below the level at which the Federal Reserve would consider changing monetary policy.
And as interest rate strategist Vincent Foster pointed out on Twitter, excluding the deflationary period of 2008-2009, this 1% print is the lowest year-over-year CPI reading since 1965.
We recreated Foster’s chart.
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