Should We Worry About Disinflation?

Price increases in the U.S. keep falling short of the Federal Reserve's inflation target.

Today's report on June consumer prices, with its gasoline-driven increase of 0.5 percent, may allay the immediate concerns about falling inflation, but it's unlikely to alter the underlying theme: Four years after the end of the recession, U.S. inflation is still slowing, the Federal Reserve's money-printing operations notwithstanding.

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