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U.S. official sees moderation in goods and services inflation in months ahead -Breaking


© Reuters. FILE PHOTO – A customer shop at Reading Terminal Market, Philadelphia, Pennsylvania after January’s 40-year peak in inflation. This was in Philadelphia on February 19, 2022. REUTERS/Hannah Beier

WASHINGTON, (Reuters) – Friday’s data on consumer prices will likely reflect Russia’s ongoing impact on energy and food prices. However, U.S. inflation in goods and services should ease over the coming months, a top U.S. official stated on Thursday.

The official stated that despite these disruptions, he believed the economy could and was transitioning from a historical recovery to steady, steady growth with inflation pressures lowering.

According to the official, air fares were already up by more than 30% over the past months and were likely to rise again. This is due in part because of the impact of rising energy prices on core inflation.