The ECRI’s Future Inflation Gauge declined in May from 102.9 to 101. This is one of the few reliable independent inflation gauges. Lakshman Achuthan, Chief Economist of ECRI said inflation pressures are clearly receding:
“With the USFIG hitting a seven-month low, underlying inflation pressures have clearly begun to recede.”
This should pretty much put the imminent predictions of hyperinflation to rest (though we should not expect any of the hyperinflationists to be held accountable for their complete and total lack of understanding of the US monetary system). Disinflation is clearly becoming a risk again.