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Economic Viewpoint

Is the Period of Lacklustre U.S. Inflation Winding Down?

September 26, 2017
François Dupuis, Vice-President and Chief Economist • Francis Généreux, Senior Economist

In the United States, relatively soft inflation persists, something that has characterized almost all of the current economic growth cycle. Despite the livelier economy, inflation’s recent movement is making the Federal Reserve’s (Fed) job harder, as it is taking a while for price growth to reach its target. However, of the factors that may explain the fluctuations in inflation, several are starting to edge a little higher. We can therefore expect inflation to strengthen somewhat in the coming quarters, although that will not be enough for Fed leaders to abandon the current gradual pace for monetary policy normalization.

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