http://www.bls.gov/news.release/pdf/cpi.pdf
For the last year, overall prices increase .1 %, so by the CPI, you are correct, overall prices have not yet declined for a full year.
But that is the lowest increase since 1954, and the fall in prices has just begun.
Fine, but was there ever a time you've said it wasn't bleak?
Not recently.
--and we all know what a terrible year '54 was
So now we got increasing prices meaning that they're decreasing. Look, if you want things to be bad, look at the fact that November's monthly CPI drop was the worse since 1932! Then again, December's was not even as bad as 2005 so maybe we won't talk about that.
"...a time you've said it wasn't bleak?" "Not recently."
Have you ever been happy about the future in any of your posts, ever?
If prices go up, it's inflation, and we usually don't like very much of it. Most of us think price stability is good thing. So a CPI that goes up only 1% a year OR down 1% a year would be a good thing. Even after RR broke the back of inflation (the 10%/year kind) we've had about 3%, and we'd like it to be lower. So, where is the gloom and doom if we have 0, or even -2%?