US Inflation - There is little to no inflation

The Cleveland Fed released this yesterday indicated that core inflation has risen only 0.1% in October (1.1% annual).  In addition, trimmed inflation was unchanged.  On another note it was not housing that is dragging the inflation numbers as the indexes for rent and owner's equivalent rent both increased. Lastly the BLS stated that CPI without food and energy is the smallest 12-month increase in the history of the index, which dates to 1957. 


As noted here by Mark Thoma were continued to look a lot like Japan.  My hope now is that we do as well as they did but I don't really believe that to be the case.