More like the 9th or 10th, but nonetheless I see what you're talking about with the summer 2008 oil spike. The problem with this analysis is that a deflationary spiral is really more about price jerk than inflation itself. In other words, the rate at which inflation is changing is the bigger concern than the inflation rate itself.

> So not sure how you're deducing there was no inflation.

This is a strawman you've entirely made up, so I won't respond to this portion.