Have we entered cupcake deflation?
A baker frosts a chocolate cupcake in New York City.
This final note today, in which actual economic data confirms something we told you was comin' weeks ago.
We got the consumer price index this morning -- inflation is another way to say that. There still isn't any in this economy, by and large. Food prices, for instance, were up just 0.2 percent in April.
Cupcake prices, however (the actual category is Fresh Cakes and Cupcakes, for what it's worth) dropped 0.8 percent.
Cupcake deflation is at long last upon us. Hat tip for that one goes to economist Justin Wolfers, who you hear on this program from time to time.