The rise in prices should return to a normal level around 2% in the second half of 2022, believes Treasury Secretary Janet Yellen.
Inflation in the United States is expected to return to around 2% in the second half of 2022, US Minister of the Economy Janet Yellen assured CNN on Sunday.
Driven by global supply difficulties, especially in semiconductors, the lack of manpower and demand that remains strong for products, consumer prices were still up 5.4% in September. compared to the same period in 2020.
They also accelerated again in September compared to the previous month, by 0.4% against 0.3% in August.
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But month-to-month price increases “have already fallen off significantly from the very significant rates seen in the spring and early summer,” said Janet Yellen.
“The one-year inflation rate will continue to be high until next year (…) but I expect it to improve by the middle or the end of next year. She added.
“I don’t think we are losing control over inflation”
The American central bank, which has among other missions the fight against inflation, is targeting a rate of around 2%. “I don’t think we are losing control over inflation,” the minister said on Sunday.
Americans “have not seen such high price increases for a long time,” she admitted.
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But “as we emerge from the pandemic, I expect that the bottlenecks (which slow down the movement of goods and increase prices, Editor’s note) will subside and the Americans will return at work, ”said Janet Yellen.
The spending provided for in the massive investment plans currently being negotiated in Congress will not over-fuel this inflation because “they are spread over ten years, not over a single year,” the official also said.
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