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welcome back to stock box on CNBC we're just seconds away from the latest consumer price state if futures have turned positive Rick Santelli standing by it to see me in Chicago Rick the numbers please yes our may read on headline consumer price index is down one tenth largely as expected and that follows eight tenths which is unrevised and stands at the second worst level meaning the second biggest drop in headline inflation since 1947 the first was November of Voe a 2-1 point 8 now we strip out the all-important food and energy it's also down one tenth and last look that was down for tense that stands unrevised and unlike headline didn't start in 47 the notion of course started 10 years later in 1957 and last month down 4/10 was the biggest drop ever in core now let's look at the year-over-year numbers shall we year-over-year CPI is up 1/10 year-over-year core is up 1.2 so these numbers are very largely as expected although on the year-over-year numbers you could argue that up one tenth is a lot cooler than the up three tenths we were looking for you know when it comes to inflation and just pricing issues in general obviously what's going on around the globe it makes it pretty difficult to handicap what the true picture is because as many countries open up of course and demand in other countries remains rather low well just look at commodity prices for example highly depressed and one of those big commodities for a while was oil and it has come back a large amount but historically over the last seven or eight years of course it's still on the low side and maybe that's where the big pricing issue will be for the fixed income subsidized market down the road is how pricing pressures end up after the globe gets its traction back Joe back to you thanks Rick stay there if you would I'm not ordering you but Steve Liesman joins us now with more hey Steve hey Joe how are you some fascinating numbers in here just real quick there's one item that's going up in price and that's food at home 1% I'm interested down the road Joe when when we do go back and I we're going back now and demand increases is supply able to meet that demand do you have some turnaround in some of these prices when people start buying stuff but let's talk about the the more prevalent issue here gasoline down three and a half energy services down 0-5 some of the other items are looking at apparel down two point three transportation services down three point six overall there's a pretty strong deflation i wave i believe we hit a record last time in the year-over-year with the zero point three percent year-over-year number and now we've hit a new record down 0.1 percent so very strong disinflationary impulse in the economy right now...