Fed's Lockhart: Inflation too high but slowing: report

WASHINGTON (Reuters) - U.S. inflation is too high but there are some signs that it is slowing, Federal Reserve Bank of Atlanta President Dennis Lockhart said on Friday, adding that monetary policy must remain flexible.

"I think it is a serious concern... My personal view is that inflation has been elevated since mid-decade, basically since 2005. For my own comfort zone, it is at an uncomfortable level," he told CNBC in a live television interview.

"My base-case forecast is that the weak economy will bring inflation down. And in fact, if you look at some of the information, the data we've seen in the last couple of cycles ...it has slowed," he said, adding:

"There is some indication, some hope, that we're seeing a slowing of the pace of inflation."

(Reporting by Alister Bull; Editing by Theodore d'Afflisio)