NEW DELHI (Reuters) – U.S. Treasury Secretary Janet Yellen told Reuters on Friday that it was good to see the latest U.S. inflation data that suggests upward pressures are easing, but added that it was unclear if inflation has a reached a turning point to continue moving lower.
“I don’t know if this is a turning point,” Yellen said in an interview in New Delhi a day after October U.S. Consumer Price Index data logged its smallest gain since January at a 7.7% annual rate.
“I never make more of one data point. That is one data point,” Yellen said of the Commerce Department report. “It was certainly nice to see an inflation report that came in on the low side of expectations rather than the high side and, you know, we’ve seen early indications along the pipeline that inflation might be diminishing.”
(Reporting by David Lawder; Editing by Tomasz Janowski)