With the huge creation of money in recent times by the Federal Reserve and Treasury, the financial world has been waiting for inflation to begin.  Here is the latest report on the Consumer Price Index:

The Consumer Price Index for All Urban Consumers (CPI-U) increased  0.2 percent in October on a seasonally adjusted basis, the U.S.  Bureau of Labor Statistics reported today. Over the last 12 months,  the all items index increased 1.2 percent before seasonal adjustment.

As has frequently been the case in recent months, an increase in the  energy index was the major factor in the all items seasonally  adjusted increase. The gasoline index rose for the fourth month in a  row and accounted for almost 90 percent of the all items increase;  the household energy index rose as well. The food index rose slightly  in October with the food at home index unchanged.    

The index for all items less food and energy was unchanged in  October, the third month in a row with no change. The indexes for  shelter and medical care rose, but these increases were offset by  declines in anarray of indexes including new vehicles, used cars and  trucks, apparel, recreation, and tobacco.   

Over the last 12 months, the index for all items less food and energy  has risen 0.6 percent, the smallest 12-month increase in the history  of the index, which dates to 1957. The energy index has risen 5.9  percent over that span with the gasoline index up 9.5 percent. The  food index has risen 1.4 percent, with both the food at home index  and food away from home index rising the same 1.4 percent.