LONDON (MNI) – Trend inflation in the U.S. is “quite low” at the
moment, but it is unlikely to go significantly below its current level,
according to Christine Cumming, first vice president of the Federal
Reserve Bank of New York.
Cumming told an audience at the House of Commons in London that
“While trend inflation is quite low at the moment, we see it likely to
be near the low point of this cycle.”
“The rate of inflation for nonenergy services is beginning to
increase, led by faster increases in apartment rents. However,
underlying inflation fundamentals suggest relatively low trend inflation
for some time,” she added.
–London newsroom: +44 20 7634 1655; email: william.wilkes@ntkn.co
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