Can we stop worrying already? Everyone’s favorite harbinger of inflation, the red-breasted Consumer Price Index, is harbingering no such thing. After an April spike that put a fear of Greenspan into the markets -- a fear that hasn’t dissipated -- consumer prices in May remained flat (with only a 0.1 percent hike if you exclude falling energy prices). That’s zilch, folks. And so now it can be told: Reports of the resurrection of inflation were greatly exaggerated. "April’s rise was, as predicted, a one-time thing," says TIME senior economics reporter Bernard Baumohl. "With May’s number, the jittery markets may finally be able to stop worrying." (And they did -- rising by almost 190 points by the end of trading Wednesday.)