FT Alphaville reports:

Over the last twelve months, core CPI climbed 0.6 per cent, or “the smallest 12-month increase in the history of the index, which dates to 1957,” according to the BLS. There’s been a slight divergence between the core and headline numbers in recent months, with the majority of it accounted for by higher gas prices — but even then, the headline figure only climbed 1.2 per cent.