Over the last 12 months (from June 2009 through June 2010), the CPI-U has increased by 1.05%.
It decreased by 0.1% last month (from May 2010 to June 2010). Over the last 12 months, the CPI-U has increased in 9 months, and decreased in just 3 – July 2009, December 2009, and June 2010.
There is no collapse in the CPI. In fact, it is still clearly going up more than it is going down.