CHART OF THE DAY: Inflation Just Tumbled To Its Lowest Level In Almost 50 Years, Excluding The Crash

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.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.