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"On average, the 55 economists, not all of whom answer every question, expect inflation to moderate through 2012. The Labor Department reported Friday that consumer prices increased 3.2% from a year earlier in April mostly due to higher food and energy prices. Economists expect that rate to throttle back to 3% by the end of this year and remain below 2.5% through 2012.
The majority—36 out of 52 economists responding—said the upswing in food and energy prices would be temporary. While they expect oil prices to remain elevated from last year's levels, they forecast that the rapid increases seen earlier this year weren't likely to be repeated. "We think any further rise in commodity prices will be small," said Bruce Kasman of J.P. Morgan Chase."
Source: Excerpt from article linked to above
Keywords: Economic Forecasts, US Economy, Inflation
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