Fed's Bullard says U.S. inflation appears to be rising

OWENSBORO Kentucky Thu Jul 17, 2014 3:02pm EDT

James Bullard. REUTERS/Brian Snyder

James Bullard.

Credit: Reuters/Brian Snyder

OWENSBORO Kentucky (Reuters) - St. Louis Federal Reserve President James Bullard said on Thursday that U.S. inflation appeared to be on the rise again after being surprisingly low for much of the past year.

"Inflation seems to be rising once again," Bullard said in a speech to a business group in Owensboro, Kentucky, adding that he had been surprised at how low inflation had been for much of the past year.

Bullard is one of the few Fed presidents forecasting an interest rate hike for early next year, ahead of his colleagues, and he's previously said certain economic data could make him more inclined to move up his prediction of a rate hike for late in the first quarter.

(Reporting by Michael Flaherty; Editing by Paul Simao)

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