Month-over-month changes in the Consumer Price Index (CPI) have been nearly zero for much of the past year. The graph below shows monthly inflation over the past two years.
In September, the CPI rose just 0.0226 percent - that's pretty much "zero."
These low numbers astonish many people who see grocery prices or college tuition rising. But remember, the CPI measures the overall price level, with weights given to prices of individual categories based on the consumption patterns of an average consumer.
So even though food prices rose o.1% in September, gasoline prices fell 2.4% (in just one month!).