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

OWENSBORO, Kentucky, July 17 Thu Jul 17, 2014 2:21pm EDT

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OWENSBORO, Kentucky, July 17 (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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