Since I didn't post an inflation graph when CPI was released, here is one for a Saturday night:



Click on graph for larger image in new window.



This graph shows three measure of inflation, Core CPI, Median CPI (from the Cleveland Fed), and 16% trimmed CPI (also from Cleveland Fed).



They all show that inflation has been falling, and that measured inflation is up less than 1% year-over-year. Core CPI, median CPI, and the 16% trimmed mean CPI were all up 0.1% in July.



Note: The Cleveland Fed has a discussion of a number of measures of inflation: Measuring Inflation