Deeeeeeflation!!

Not too much should be made of this since it is seasonally adjusted data and, more importantly, the government's version of inflation has some very serious flaws as discussed ad nauseam over the years, but, earlier today, the one-year, seasonally adjusted change to consumer prices dipped into negative territory for the first time since 1955.
It will surely go even lower between now and this summer as the year-over-year change in energy prices becomes more extreme. Of course, that will be the least of our problems, but it will provide an important justification for the Fed to print more money.