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Bring on the cupcake deflation!

May 16, 2013: 10:57 AM ET
Frosted cupcake

Cupcake prices are falling, according to the Consumer Price Index.

Not only is the cupcake craze truly winding down, it's leading to some Twitter fun among econ nerds this Thursday morning.

When the Labor Department released its latest Consumer Price Index -- a key measure of inflation -- it contained a detailed breakdown that showed cupcake prices are falling.

Follow the hashtag #CupcakeDeflation to get in on the meme, started by Justin Wolfers -- the same economist who brought us the beloved #FedValentines last year.

  • Falling gas prices lead inflation lower for second month

    You paid less for gasoline in April, and that led overall inflation lower for the second month in a row.

    The Consumer Price Index, a key measure of inflation, fell 0.4% in April, according to the Labor Department. Compared to a year earlier, prices are up only 1.1%, a level of inflation that's considered rather low.

    Falling gas prices were the main driver for the broader decline for the second month in MORE

    - May 16, 2013 8:40 AM ET
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