US economy goes back to 1955 as deflation returns..

Guardian.co.uk
The US economy has begun to deflate for the first time in more than half a century as a slump in demand pushes energy and food costs lower.

The consumer price index fell at an annual rate of 0.4% in March, the first decline since August 1955, figures from the US labour department showed today. It was bigger than the 0.1% drop expected by economists…