It is weird to me that some people are still worrying about deflation. Brian Wesbury writes:
The Consumer Price Index (CPI) was up 0.4% in November, matching consensus expectations. The CPI is up 1.8% versus a year ago, and is up at a 4.2% annual rate in the past six months.
“Cash” inflation (which excludes the government’s estimate of what a homeowner would charge himself for rent) increased 0.6% in November and is up at a 5.6% annual rate in the past six months.