Many believe that inflation is here to stay. IMO inflation has peaked, it just take some times for things to cool off and show on the CPI print...when deflation kicks in, it will be fast, according to past experiences. Another interesting metric not many are paying attention to is the China PPI vs US CPI, the chart is self explanatory. The latest divergence is giving a big hint on where US CPI is going...deflation will kick in? Or inflation will stay because of "decoupling"? I believe in deflation.